The IPO Proposal of Eastern Hydropower Limited is in SEBON’s pipeline.
The company plans to issue a total of 12.4 lakh shares to raise Rs. 12.4 crores in paid-up capital. The shares will be issued to the locals and the general public.
According to Nepal Water Resource Portal, Eastern Hydropower Limited has constructed two hydropower projects: “Irkhuwa Khola Ka HPP” and the “Pikhuwa Khola Hydropower Project.” The former has an installed capacity of 14.1 MW while the latter has 5 MW. Both projects are located in Bhojpur. “Irkhuwa Khola Ka HPP” has had its survey license approved while “Pikhuwa Khola Hydropower Project” is live.
According to The Himalayan Times, Eastern Hydropower Limited had begun the construction of the Pikhuwa River Hydropower Project in BS 2066 after taking government approval for a 2.5-megawatt capacity. The company, which had the intention of increasing the project capacity, had not been able to take the construction work forward for some time. It then picked up pace in 2018 after receiving permission to increase the capacity to five megawatts.
NMB Capital has been appointed the issue manager for the IPO issuance. While the company submitted its application on Mangsir 24, the regulator hasn’t approved the proposal yet.