KATHMANDU

Chirkhwa Hydro Power Limited has opened its IPO sale to the public on Tuesday, Aswin 23. The company had previously opened the IPO sale for Nepali employees working abroad and project-affected locals in the first phase.

Among the 400,000 shares issued, locals had applied for only 244,700 shares. Hydropower increased the number of shares by 195,300 and issued a total of 859,300 shares for the general public. Investors can apply for a minimum of 10 shares and a maximum of 100,000 shares.

C-ASBA member banks, financial institutions, and my share market can apply for shares. The company’s share issuance and sales are managed by RB Merchant Banking. Rating agency ICRA Nepal has given this IPO a ‘ICRA NP Double B Minus’ rating, indicating an average level of financial risk for the company’s financial obligations. ICRA Nepal had given the same rating to the IPO on Falgun 1, 2079.