Sanigad Hydro Limited is set to open its initial public offering (IPO) from Chaitra 8, focusing on local residents affected by the project and Nepalis working abroad with valid labor permits. For local residents, the company has allocated 28 lakh 50 thousand ordinary shares. Of these, 18 lakh 52 thousand 500 shares are reserved for highly affected areas, specifically Bungal Municipality Wards 1, 2, and 4, while the remaining 9 lakh 97 thousand 500 shares will be available for residents of Wards 3, 5, 6, 7, 9, 10, and 11. Local residents can apply for a minimum of 10 shares and a maximum of 20 thousand shares. Applications can be submitted at Laxmi Sunrise Bank, Chainpur Branch, Global IME Bank, Bajhang Branch, Rastriya Banijya Bank, Bajhang Branch, Agricultural Development Bank, Bajhang Branch, or directly at the company’s powerhouse office in Bungal. The application period will remain open until Chaitra 22, and if sufficient applications are not received, it may be extended until Baisakh 7.
For Nepalis working abroad with labor permits, the company has allocated 5 lakh 70 thousand shares, with applications accepted for a minimum of 10 shares and a maximum of 20 thousand shares. The application deadline for this group is Chaitra 11.
The IPO was approved by the Nepal Securities Board on Falgun 25, allowing the company to issue a total of 28 lakh shares worth NPR 28 crore. The process is being managed by Laxmi Sunrise Capital as the issue manager. This IPO provides both local and overseas investors with an opportunity to participate in Sanigad Hydro’s growth while supporting project-affected communities.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
