Kathmandu. Nepalis working abroad can apply for the IPO of Yambaling Hydropower till mid-April.
The company had issued the initial public offering (IPO) from March 8 for the project-affected locals and the Nepali migrant workers in the first phase. The company has been allowed to issue 28 lakh units of shares worth Rs 28 crore, which is 40 percent of the issued capital of Rs 70 crore.
In the first phase, 700,000 units of shares worth Rs 70 million each will be issued to the locals of the project affected area and 10% of the total shares will be issued to the Nepalis working abroad. Nepalis who are in foreign employment can apply till the banking hours today.
Bidders can apply for a minimum of 10 units and maximum of 7,000 units while foreign employment can apply for a minimum of 10 units and maximum of 21,000 units.
The IPO will be signed in Jugal Rural Municipality Ward No. 1 of Sindhupalchowk district. Residents of Provinces 1, 2, 3, 4, 5, 6 and 7 can apply. The interested bidders can bid for the shares from Sindhu Bikas Bank and Kumari Bank’s Jugal Rural Municipality branch and Chautara branch of Sindhu Bikas Bank.
Nepalis who are abroad employed can apply for the ASBA service from the banks and financial institutions participating in the ASBA service and their designated branch offices through the C-ASBA system and CDSC’s My Share.
The local IPO issuance in the project-affected areas will be closed on April 22 at the earliest and on April 7, 2083 at the latest. Muktinath Capital Limited has been appointed as the issue manager for the IPO of Yambaling Hydropower.
