IPO update of eastern hydropower and the result update
Eastern Hydropower Limited (EHL) opened the application for IPO to the general public on 14 October 2022. This company had issued 670310 shares to the general public. Meanwhile, the company already reserved 13406 units of IPO shares for the company’s employees and 33515 shares to the collective mutual fund. So the general public was applying for 626289 units of shares. In this content you will find the IPO application and result update of Eastern Hydropower Limited.
Eastern Hydropower Limited received more than 1 million applications from the general public. According to CDS and Clearing, by 5:05 pm on Monday, this company received 1028053 applications for 11668890 shares worth 1166889000 rupees in the company’s IPO. There is 18.71 times more than the 623 thousand 389 shares issued to the general public
Eastern Hydro IPO for Locals
Eastern Hydropower Limited already distributed the initial public offering to the project-affected area’s people. The date of IPO application for locals was August 23, 2022, to September 6, 2022. The company already distributed IPO to the local people. You can view the result of the first phase IPO allotment, you can view at the website of NMB Capital Limited.
Applicant can apply for the shares issued by the company as soon as possible till 2nd of Kartik. The late closing date of this IPO is 14th of Kartik, 2079. Investors interested in the company’s IPO can apply for a minimum of 10 shares at the rate of 100 rupees per share and for more than that, up to a maximum of 100,000 shares divided by 10 points. All CSBA member banks and financial institutions that have received approval from the Nepal Securities Board for the company’s IPO can apply from the designated branch offices and also through Mero Share mobile app.
NMB Capital Limited is the issuing and selling manager of the company’s securities, while Muktinath Capital Limited is the guarantor.
About Eastern Hydropower Limited
The starting year of Eastern Hydropower Limited is 2005 under the Company Ordinance 2005 as a Private Limited Company by Hydropower Developers. The company became a public limited company from a private limited company in August 2017. The company has been operating the Pikhuwa Khola small hydropower project with a capacity of 5 megawatts.
The total cost of the project which has been completed is 1 billion 30 million 58 lakh 73 thousand 494 rupees. The average cost per megawatt of the project is 261.11 million rupees. Also, the return period of ordinary investment is 9.07 years and the return period of discount investment is 18.11 years. The company has completed all the project construction work and has been producing and selling electricity since June 27, 2076.
Board Of Directors
There are a total of 7 members on the board of directors of the company. Whereas 6 members are founding share holders and one is an independent shareholder. The tenure of BOD is 4 years.
Dhan Bahadur Shrestha is the chairman of the board of directors of the company. Similarly, the board of directors includes Devraj Rai, Ashok Kumar Marhajan, Pushparaj Sharma, Shobhadevi Karmacharya and Shashiraj Shrestha. Shrestha is an independent director.
Issue Manager of Eastern Hydropower Limited
NMB Capital Market is the IPO issuing manager of Eastern Hydropower Limited. Ths company is responsible to publish the result of the IPO of eastern hydropower limited. We can view the IPO result on the website of NMB capital.
Opening Range of Eastern Hydropower in secondary market
The networth of EHL is Rs: 72.33 in the fiscal year 2078/2079. So that the opening range of this hydropower will be from Rs: 70 to Rs: 220 in the first transaction of the Secondary market.
Eastern Hydropowr IPO result
NMB Capital Limited will publish the IPO result after one week after the closing date. The issue manager will organize IPO allotment at the corporate office. There are a lot of applicants. The applicants are more than the quantity of the issued shares. Lucky people will get the IPO shares through lottery process. We can check the IPO result in two following two websites.
Capital Stucture of Eastern Hydropower Limited
The authorized and issued capital is 62 crores. Similarly, the company’s paid-up capital is 496 million rupees. The company’s paid-up capital will reach 62 million rupees after issuing shares worth 124 million rupees to the project-affected locals and 67 million 31 thousand rupees to the general public. After the IPO issue, the company’s share ownership will be 80 per cent of the founders and 20 per cent of the general public