Suryakunda Hydro Electric Limited Issuing IPO Shares to Locals of Nuwakot District And Nepalese Employed Abroad From Poush 09
Summary
Suryakunda Hydro Electric Limited has opened an IPO for project-affected locals of Nuwakot District and Nepalese working abroad to issue shares in their 11 MW hydropower project. Kumari Capital Limited manages the issue, with CARE Ratings reaffirming the company's moderate credit ratings.
Key Points
- Suryakunda Hydro Electric Ltd is issuing IPO shares to project-affected locals of Nuwakot District and Nepalese employed abroad starting from 9th Poush, 2082.
- The IPO allocates 10% of shares (6,89,675 units) to project-affected locals and 10% will be offered later to the general public, with a reserved 10% of those shares for Nepalese abroad.
- The company operates an 11 MW run-of-river hydropower project under a BOOT model in Nuwakot District, Bagmati Province.
- CARE Ratings Nepal Limited has reaffirmed the issuer and bank facility credit ratings for Suryakunda Hydro Electric Limited indicating moderate financial risk.
