Unitech Hydropower Company Private Limited (UHCPL) is a company that was established in 2014 to produce and distribute Hydro-electricity.
The major promoters of the company are Mr. Tika Prasad Sangraula, Mr. Narendra Mainali, Mr. Mahendra Prasai, Mr. Ananda Kumar Basnet, and Dr. Shambhu Nawal.
UHCPL is currently developing a 5.8-megawatt hydroelectric power project on the Upper Phawa River in Taplejung district, Nepal. The project has the potential to generate 5.8
Megawatts of electricity. Upper Phawa project is currently in the final stages of completion, with only 10% of the construction work remaining.
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Unitech Hydropower Company Limited IPO Details
Unitech Hydropower Company Limited is currently in the process of offering 36.67 crores of Initial public offering (IPO) shares to the public.
The company has appointed Laxmi Capital Market Limited as the issue manager for the IPO issuance.
As per agreement signed by Rajiv Sapkota, CEO of Laxmi Capital and Bishwa Prakash Amatya, Managing Director of Unitech Hydropower company limited, the company will issue 36,67,000 ordinary shares at a par value of NPR 100 each which amounts to Rs. 36.67 crores.
Whats Next For Unitech Hydro IPO
- First of all, company must submit its proposal to the securities board of Nepal (SEBON) seeking the approval of IPO issuance.
- Once they get the approval, Unitech Hydropower Company Limited will be eligible to issue the IPO to public.
- We can expect, The Unitech Hydropower Company will issue IPO to the local and project effected people first. Second issue will be for foreign employed Nepalese.
- Finally, they will issue IPO to the general public, employees of the company and plans for mutual funds.
- Date of the IPO issue to general public is yet to be announced.
ICRA Rating For Unitech Hydropower Company Limited
ICRA Nepal has assigned a long-term rating of [ICRANP] LB+ (pronounced ICRA NP L B plus) to Unitech Hydropower Company Private Limited’s (UHCPL) long-term loan and a short-term rating of [ICRANP] A4 (pronounced ICRA NP A four) to its short term loans.