Shikhar Power Development Limited is set to issue its Initial Public Offering (IPO) from Magh 6, 2082. The IPO will be specifically allocated for residents of project-affected areas and Nepali citizens engaged in foreign employment. The company received approval from the Nepal Securities Board on Poush 16, 2082, to issue 32 million ordinary shares worth NPR 32 crore, with a face value of NPR 100 per share.
Of the total issuance, 10% of the total shares, equivalent to NPR 9.8 crore or 980,000 shares, has been allocated for residents of project-affected areas. Eligible areas include Wards 1тАУ10 of Badigad Rural Municipality, Baglung District (covering former Dagatunda, Sisakhani, Jaljala, Gwalichaur, Shrimagithe, Ransinghkiteni, and Darling VDCs) and Ward 2 of Dhorpatan Municipality (former Burtibang VDC Wards 2тАУ5), which are impacted by the electricity transmission line.
For Nepali citizens working abroad, 10% of the remaining 22.2 million shares, equivalent to 222,000 shares worth NPR 2.22 crore, has been reserved. The company has clarified that if the shares reserved for project-affected locals or foreign-employed Nepalis are not fully subscribed, the remaining shares will be offered to the general public.
Eligible applicants from project-affected areas can apply for a minimum of 10 and a maximum of 10,000 shares, while foreign-employed Nepalis can also apply for the same range of shares. The IPO application period for project-affected residents will remain open until Magh 20, 2082, whereas applications from foreign-employed Nepalis will be accepted from Magh 9 to Magh 20, 2082.
Applications for project-affected residents can be submitted through Global IME Bank Naxal, Burtibang, Baglung Bazar, Prabhu Bank Gwalichaur Baglung, Garima Development Bank Burtibang, and Sain Resunga Development Bank Burtibang. Foreign-employed Nepalis may apply through all branches of banks and financial institutions approved by the Securities Board or via MeroShare online platform.
Global IME Capital is acting as the IPO issuing and sales manager for the company. After completing this first phase for project-affected residents and foreign-employed Nepalis, Shikhar Power Development Ltd plans to issue the IPO to the general public in the second phase.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
