Eastern Hydropower Limited has issued an IPO from the 7th of Bhadra for the local residents affected by the project. The last date for application is tomorrow 21st of Bhadra. The company said that if all the shares are not sold during that period, the application can be submitted until Ashoj 5.
The company issued an IPO of 620,000 shares to locals. The company has evicted all local residents of the project-affected area of the Bhojpur district. Locals can apply for a minimum of 10 shares to a maximum of 100,000 shares at a rate of Rs 100 per share. NMB Capital will act as the sales manager for this IPO. Local residents can apply from the Bhojpur branches of NMB Bank, Global IME Bank, Prabhu Bank, and Laxmi Bank. Rating agency Care Nepal has given Eastern’s IPO a ‘Care NP Double B Plus‘ rating, which indicates that there is a high risk in the company’s ability to bear its obligations.