Kathmandu. Solu Hydropower Pvt. Ltd. has received IPO approval from the Securities Board of Nepal (SEBON) after one and a half months of employees’ strike.
Employees of the Securities Board of Nepal (SEBON) have been protesting over the issue of reduction in facilities. Solu Hydropower Limited (SOLU) got the IPO approval after one and a half months after the protest was called off after the Ministry of Finance promised to address the demands of the employees.
The company has received approval for the IPO of Rs 2 billion, which is 20 percent of the paid-up capital. Now, the company is issuing a total of 2 crore units of shares at a face value of Rs 100.
Himalayan Capital has been appointed as the issue manager for the IPO issuance.
