Yambaling Hydropower Limited has extended the deadline to apply for its IPO opened for project-affected local residents. The application period, which began on Chaitra 8, can now be submitted until Baisakh 7, 2083.
The company had received approval to issue 28 lakh shares worth Rs. 28 crore—equivalent to 40% of its Rs. 70 crore issued capital. Out of this, 7 lakh shares worth Rs. 7 crore have been reserved specifically for local residents.
Residents of Ward No. 1–7 of Jugal Rural Municipality in Sindhupalchok District are eligible to apply.
Applicants must apply for a minimum of 10 shares and can apply for a maximum of 7,000 shares.
The IPO issue and sales manager is Muktinath Capital Limited. Local residents can submit applications from the Jugal Rural Municipality branches of Sindhu Bikas Bank Limited and Kumari Bank Limited, as well as the Chautara branch of Sindhu Bikas Bank. Applications can also be submitted through the ASBA system. An application form fee of Rs. 2 has been set.
In the pre-issue rating, CARE Ratings Nepal assigned the company a ‘CARE-NP BB- (Double B Minus)’ issuer rating, indicating a moderate risk in its ability to meet financial obligations.
The company is developing the 7.27 MW Yambaling Khola Hydropower Project with an estimated total cost of over Rs. 1.87 billion. The cost per megawatt is approximately Rs. 25.73 crore.
The project’s power generation license still has 25 years and 6 months remaining. The simple payback period is 10.76 years, while the discounted payback period stands at 19.87 years.
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