Kathmandu. Today is the last day to apply for the IPO of Sanigad Hydro Limited. Today is the last day to apply for the IPO which is open to the general public from June 18.
The company has been issuing the IPO to the general public after the IPO is issued for the local residents of the project-affected area and the Nepalese employed abroad.
The company was allowed to issue 8.55 million units of shares worth Rs 85.50 crore, which is 30% of the issued capital of Rs 2.85 billion. In the first phase, the company has set aside 28,50,000 units of ordinary shares to the locals of the project affected area and 5,70,000 units to the Nepalese working abroad.
Similarly, 1,71,000 units have been allotted for the employees of the company and 2,85,000 units have been allotted for the mutual funds.
The company is issuing 100.46 lakh units of shares worth Rs 46.74 crore to the general public.
Applications can be place for minimum 10 units and maximum 20,000 units. Laxmi Sunrise Capital Limited has been appointed as the issue manager for the IPO issuance.
ICRA Nepal has assigned an ‘IBNP’ Issue Rating ‘Double B Minus’ to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.
The general public can apply for the ASBA service from the banks and financial institutions participating in the ASBA service and their designated branch offices after obtaining permission from the Securities Board of Nepal (SEBON).
