Upper Solu Hydro Electric Company Limited (USHEC) IPO for Local 33,07,500 Shares

Upper Solu Hydro Electric Company Limited (USHEC) began as private limited company on May 28, 2010, but on April 14, 2016, it became public company to allow for public participation. The company operates 23.5MW Solu HEP in Nepal’s Province 1’s Solukhumbu area. The project is run-of-the-river (R-oR)design that has 40% chance of exceeding the goal (Q40). The project, which cost NPR 5,000 million to develop, began operations on March 23, 2020. The 23.5MW Solu HEP project was one of the first Super-Six projects that the Nepalese Department of Electricity Development looked into (DoED).

The IPO of Upper Solu Hydro Electric Company has been approved by SEBON.

The Upper Solu Hydro Electric Company Limited will issue an Initial Public Offering (IPO) in the near future (IPO). In the first round of the IPO, Upper Solu Hydro Electric Company Limited will issue 13,50,000 shares to residents of project-affected districts starting on Baisakh 22, 2079 B.S. Residents of all wards in the Solu Dudhukunda municipality of the Solukhumbhu district are eligible to purchase shares. Until Jestha 5, 2079 B.S. the initial public offering will be open to the public. The application deadline will be extended until Jestha 20, 2079 B.S. if the issue remains undersubscribed after that time. The Securities Board of Nepal (SEBON) granted permission to Upper Solu Hydro Electric Company Limited to issue shares on Baisakh 7, 2079 B.S. (24.50 percent of its issued capital).

The corporation submitted its application to the board on Chaitra 16, 2077 B.S. After the first phase is completed, the corporation will sell shares to the general public. In total, 33,07,500 shares will be issued in the public offering. At a par value of Rs 100, the total public issue is worth Rs 33.07 crores. Interested parties can apply for as few as 10 or as many as 100,000 shares. NMB Capital is the issue manager for Upper Solu Hydro Electric Company Limited’s initial public offering. The Solu Hydro-Electric Project is run by the corporation at Solu Khola in the Solukhumbu district. The firm completed the project’s development and began generating electricity from Mangsir, 2076 B.S. With a 23.5 MW installed capacity, the project is a run-of-river type.

It generates 132.52 GWH of electricity annually. Laxmi Bank has contributed 75 percent of the project’s cost, along with the other banks and HIDCL. The project was completed with an investment of nearly Rs 4.50 Arba.

IPO Details Upper Solu Hydro Electric Company Ltd:

Here are the IPO Details of Upper Solu Hydro Electric Company Limited by Mero Share.

Company Name:- Upper Solu Hydro Electric Company Limited

Type: – IPO

SCRIP: – USHEC

Shares:- 33,07,500

Sector:- Hydropower

Issue Manager:- NMB Capital

ICRA NEPAL Rating:- BB+

Issue Open Date:- 2079-01-22

If fully subscribed, Issue Close Date:- 2079-02-05, otherwise

Issue Close Date: – 2079-02-20

Source:- Solu Hydro Electricity

Conclusion

You can apply if you live in the project area. The Company has a decent EPS and more importantly, its Networth is more than Rs. 100 Per share. Upper Solu Hydro Electricity Company Limited is one of the good companies in the Hydropower segment.

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