Suryakunda Hydro Electric Limited is set to issue an IPO from Poush 9, targeting local residents of the project-affected area and Nepalis working abroad.
Suryakunda Hydro Electric Limited will issue an Initial Public Offering (IPO) starting Poush 9. The IPO is intended for local residents in the project-affected area as well as Nepalis employed overseas. The company has received approval to issue 13,79,350 ordinary shares, equivalent to 20 percent of its issued capital of Rs 68,96,74,400. Of these, 6,89,675 shares (10 percent of issued capital) are reserved for local residents of the project-affected area. All wards of Dupcheshwar Rural Municipality in Nuwakot district are eligible to apply for these shares.
Additionally, 68,967 shares (10 percent of shares allocated for the general public) are reserved for Nepalis working abroad who have obtained labor approval from the relevant government authority. The face value of each share has been fixed at Rs 100.
Applicants can apply for a minimum of 10 shares and a maximum of 50,000 shares. For local residents, the application period will close between Poush 23 and Magh 8, while Nepalis working abroad must submit applications by Poush 14. If sufficient applications are not received, the period for overseas applicants may be extended until Poush 23.
For the IPO, Care Rating Nepal has assigned the company a ‘CARE NP BB-’ issuer rating, indicating a moderate risk in debt repayment capacity. The issue and sales manager for the IPO is Kumari Capital Limited.
Local residents can submit applications at the Jyoti Bikas Bank, Samundratar branch, Agricultural Development Bank, Khairenitar branch, Rastriya Banijya Bank, Khairenitar branch, Trade Tower registered office in Thapathali, or at the Dupcheshwar project site. A Rs 2 fee will be charged for the application form.
Nepalis working abroad can apply through all C-ASBA member banks and financial institutions approved by the Nepal Securities Board using their designated branches and the C-ASBA system. Applications can also be submitted via the ‘Mero Share’ online system developed by CDS and Clearing Limited.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
