Suryakunda Hydroelectric Limited has opened applications for its IPO, targeting local residents of the project area and Nepalis working abroad in the first phase.
Suryakunda Hydroelectric Limited has officially opened applications for its Initial Public Offering (IPO) from today. The first phase of the IPO is dedicated to local residents of the project-affected area and Nepalis working abroad. The company received approval from the Nepal Securities Board (SEBON) on Mangsir 25 (B.S.) to issue 13,79,350 ordinary shares worth NPR 13,79,35,000.
Out of the shares reserved for the general public, 10 percent of the paid-up capital, equivalent to 6,89,675 shares worth NPR 6,89,67,500, has been allocated for local residents of Dupcheshwar Rural Municipality in Nuwakot district, who are eligible to apply. Similarly, 10 percent of the paid-up capital, equivalent to 68,967 shares, has been allocated for Nepalis working abroad, after obtaining labor approval from the relevant government authority. All shares carry a face value of NPR 100 per share.
Applicants from both groups can apply for a minimum of 10 shares and a maximum of 50,000 shares. The application deadline for local residents is Poush 23 (earliest) to Magh 8 (latest), while for Nepalis working abroad, the IPO will close Poush 14 (earliest) to Poush 23 (latest).
Local residents can submit applications at the Suryakunda project site, Jyoti Bikas Bank, Samundratar Branch, Agricultural Development Bank and Rastriya Banijya Bank, Khairenitar Branch, or the registered office in Thapathali, Kathmandu. Nepalis working abroad can apply through all SEBON-approved ASBA member banks and financial institutions, their designated branches, or via the ‘Mero Share’ online system.
Kumari Capital Limited is managing the IPO issuance and sales. After completing the first phase for local residents and Nepalis abroad, the company plans to launch the second phase for the general public.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
