Kathmandu, Nepal: Sanigad Hydro Limited has opened its Initial Public Offering (IPO) for general investors starting from Monday (Jestha 18). The company is issuing shares to the public after completing allocation for project-affected locals and Nepali citizens working abroad.
Earlier, the company had received approval to issue 8.55 million shares worth Rs 855 million, equivalent to 30% of its total issued capital of Rs 2.85 billion. In the first phase, 2.85 million shares were allotted to project-affected local residents, while 570,000 shares were issued to Nepali migrant workers. Additionally, 171,000 shares were allocated to company employees and 285,000 shares to mutual funds.
With these allocations completed, the remaining shares are now open for subscription by the general public. The IPO aims to raise capital for the company’s hydropower development and expansion projects.
Interested investors can apply through approved banks and financial institutions as well as the C-ASBA system within the specified issue period.
Published by LS Capital Limited on 2083-2-18
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