Sickles Hydropower seeks IPO sale permission of Rs 200 million

Sickles Hydropower Company has applied to the Nepal Securities Board (NSB) seeking permission to issue initial public offering (IPO) worth Rs 200 million to the public.

The company has submitted an application on November 13 to issue 2 million shares equal to Rs 200 million at a face value of Rs 100 per share for the project-affected locals and the general public.

BOK Capital will act as the company’s share issue and sale manager.

company detail;

KC Construction’s Sikles Hydropower is a 13 MW capacity project started in 2071 BS and completed in December 2074 BS. The project has been constructed at a total cost of Rs 2.5 billion.

The water collected by constructing a dam on the Madku river connected to the national transmission line in December 2074 BS has been used to generate electricity by discharging water from two turbines in a three kilometer long tunnel. Generated electricity from 132 kV transmission line at Budhi Bazaar in Lekhnath