Good news for the investors in Nepal as another IPO is coming up for the general public. Tehrathum Power Company’s application to issue IPO has been approved by the SEBON and now the company is preparing for the IPO.
Terhathum Power Company is building hydro project in Upper Khorunga Khola. It will have the capacity of 7.5 MW.
Tehrathum Power Company To Issue IPO: IPO In Nepal
Tehrathum Power Company was started on August 16, 2009, as a private limited company. Later on Tehrathum Power Company Limited (TPCL) was converted to a public limited company on June 21, 2018.
The paid-up capital of the Terhathum Power Company was NPR 280 million ( as of mid-July 2019). The major shareholders of the tehrathum hydro include Mr. Mohan Kumar Dangi (8%), Mr. Ganesh Prasad Kattel (4%), Mr. Bhupati Lal Shrestha (4%), Mr. Shiva Nath Khapung (3%), Mr. Pramod Shrestha (3%), Mr. Bijay Sambhample (3%), Mr. Lachhuman Tiwari (3%),Mr. Dharma Raj Khadka (3%), Mr. Bhawani Prasad Khapung (3%), Mr. Yadav Khapung (2%) and Mr. Mohit Dangi (2%) and the rest of the shares are held by 275 individual shareholders.
After the IPO, the paid up capital of the comapany will reach NPR 400 million and would be held in a ratio of 70:30 by the promoters and the public investors.
ICRA Nepal has assigned a rating of [ICRANP] IPO Grade 4+to the proposed initial public offering (IPO) of Tehrathum Power Company Limited (TPCL), indicating below–average fundamentals.