Terhathum Power Company Limited Issue IPO for Project Affected Locals

News 12 Jul 2021 5009

Terhathum Power Company Limited Issue IPO for Project Affected Locals

Terhathum Power Company Limited (TPCL) to issue an IPO to the project affected locals from 5th Shrawan to 19th Shrawan 2078 (early) and 2nd Bhadra 2078 (lately). The TPCL has received permission from the SEBON to issue a total of 1.2 million units IPOs worth Rs 120 million and a total of 4 lakh units IPO for people of the project affected area.

The company will issue 4 lakh units shares at a face value of Rs 100 per share to the project-affected locals and the general public.

Out of the total 1.2 million units, 400,000 units worth Rs. 40 million will be released to the project affected locals and the remaining 800,000 units worth Rs. 80 million to the general public.

The company's paid-up capital will reach Rs 400 million after the IPO issue. The IPO issuance and sales manager of Terhathum Power Company Limited is NIBL Ace Capital.

The Hydropower Company is constructing a 7.5 MW capacity project on the Upper Khorunga River in the Tehrathum district.

In the credit rating issued for IPO issuance, ICRA Nepal has given a double risk-to-equity rating to the company, which has a medium risk in terms of timely fulfillment of financial obligations.

The issue and sale manager of the company is NIBL ​​S Capital Limited. Machhapuchhre Bank's Hile, Dhankuta Branch Office, Nepal Bangladesh Bank's Sakranti, Phedap, Chhathar, Sidhuwa, Sangurigadhi, and Rajarani Branch Offices, Global IME Bank's Jiri Khimti Branch, Manglung, Tehrathum, and Hydropower Project Site Menchhayayem Rural Municipality, Terhathum.

IPO IPO Date
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