IPO of Radhi Bidhyut to be floated by Mangsir 1st week

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    Radhi Bidhyut is coming out with Initial Public Offering (IPO) shares of 7,64,550 units shares worth Rs 7.64 crore at par value of Rs 100 per unit to the general public (including its staffs). It recently floated 4,10,000 units IPO shares to the local people of Lamjung district from Baisakh 5 to Jestha 3, 2074.

    Securities Board of Nepal (SEBON) has already provided approval to the IPO of Radhi Bidyut Company Limited.

    Narayan Poudel, Operation Manager of Radhi Bidhyut Company said, “We are waiting approval of Office of Company Registrar. After getting approval, we will publish offer letter of IPO on Kartik 22, 2074 most probably. Tentatively our target is to float IPO by the first week of Mangsir.”

    Nabil Investment Banking Limited has been assigned as issue manager for this IPO.

    Radhi Bidyut Company Limited operates a 4.40 MW Radhi Small Hydropower Project in Lamjung district that has been generating electricity since Jestha 31, 2071 and is connected to the national grid. ICRA Nepal has assigned an [ICRANP] IPO Grade 3 rating to this IPO, indicating average fundamentals.

    The authorized capital of company is Rs 1.50 arba.  The paid up capital of the company remains at Rs 30.75 crore. After the IPO for the locals of project affected area and for general public, its paid up capital will reach Rs 41 crore.

    Radhi Bidyut Company has earned net profit of Rs 4.74 crore in the last fiscal year 2072/73.

    Source : Share Sansar