May 6, 2021, Thursday
२०७८ बैशाख २३

CEDB Hydropower IPO issued from Friday

CEDB Hydropower IPO issued from Friday

CEDB Hydropower Development Company issued IPO from yesterday – Friday, April 30. The company has issued 25 lakh 18 thousand 230 ordinary shares at the face value of Rs. 100 per share.

Out of issued shares, 2 percent (50,365) shares are allotted for staffs and 5 percent (125,911) shares allotted for mutual funds. General public can apply for the remaining 2.341 million and 954 shares.

CEDB Hydropower Development Company, formerly known as CEDB Hydro Fund Limited, is registered as per the Companies Act 2063, in the office of the Registrar of Companies on the 15th of Mansir 2066 BS. The Registrar’s Office of CEDB is located at Kathmandu Metropolitan City-11, Tripureshwor.

Two hydropower projects are being implemented in Lamjung district with the investment of CEDB by constructing 4.40 MW Radhi Power Company and 0.18 MW Sage Khola Hydropower Project.

Three projects including Rapti Hydro and General Construction Limited, Dordi Khola Hydropower Limited, and Khare Khola Hydropower Company Limited are being constructed with the investment of CEDB.

About capital structure, at present, the paid-up capital of CEDB is Rs. 587.58 million.

The paid-up capital of the company is estimated to reach Rs. 839.41 million after the IPO sale to the locals and the general public. The authorized capital of CEDB is Rs. 1.5 billion and the issued capital is Rs. 838.41 million.

After the IPO, the company’s share ownership will remain at 70 percent of the founder and 30 percent of the public.

Process to apply

Sunrise Capital Limited is the issue and sale manager for the issue and sale of CEDB’s ordinary shares.

2,518,230 ordinary shares is being issued at the face value of Rs. 100 per share.

Interested investors will be able to apply for investment in ordinary shares online through C-ASBA Member Banks and Financial Institutions and MeroShare.

The company has stated that the issuance of ordinary shares of the CEDB will be closed early on 4th May 2021, Tuesday (21st Baishakh, 2078) and will be closed on 14th May 2021, Friday (31st Baishakh 2078) if allocated sale is not achieved in the first deadline.