Kathmandu. The application process for the IPO of Suryakunda Hydro Electric Company is open from December 24. In the first phase, the company is issuing IPO to the locals of project-affected areas and Nepalis who are employed abroad.
The company has been permitted to issue 13,79,350 units of shares worth Rs 13,79,35,000 i.e. 20% of the issued capital of Rs 68,96,74,400. Out of the offered, 10% of the issued capital i.e. 689,675 units of ordinary shares of Rs 100 per share have been issued to the locals of the project-affected area. All the wards of Dupcheshwor Rural Municipality of Nuwakot can apply for the IPO.
Similarly, the interested investors can apply for 68,967 units of shares at a face value of Rs 100 per share.
Applications can be place for minimum 10 units and maximum 1000 units. The IPO will be issued for the project-affected locals on January 23 at the earliest and on January 22 after the banking hours.
However, the IPO for Nepalis who are in foreign employment will close on January 28 at the earliest and on January 7 after the banking hours.
Nepalis who are in foreign employment can apply for the shares from the banks and financial institutions participating in the ASBA service and their designated branches and CDSC.
The interested bidders can bid for the shares from Jyoti Bikas Bank, Khairenitar branch of Agriculture Development Bank, Khairenitar branch of Rastriya Banijya Bank, registered office of the company at Thapathali and the project site located at Dupcheshwor Rural Municipality.
Kumari Capital has been appointed as the issue manager for the IPO issuance.
