Kathmandu. Locals affected by the project can apply for the IPO of Yambaling Hydropower Company till April 20.
According to Muktinath Capital, manager of the IPO of Yambaling Hydropower, the project-affected locals can apply for the IPO till April 22. However, the deadline for filling the IPO has been extended till April 20. However, if more applications are received than the demand before this date, the notice will be discontinued at any time.
The company had issued the initial public offering (IPO) in the first phase from March 8 for the project-affected locals and the Nepali migrant workers abroad. The deadline for Nepali migrant workers to apply for the post was March 11.
The company has been allowed to issue 28 lakh units of shares worth Rs 28 crore, which is 40 percent of the issued capital of Rs 70 crore. In the first phase, 700,000 units of shares worth Rs 70 million each have been issued for the locals of the project-affected area. The IPO will be signed in Jugal Rural Municipality Ward No. 1 of Sindhupalchowk district. Residents of Provinces 1, 2, 3, 4, 5, 6 and 7 can apply. The interested bidders can bid for the shares from Sindhu Bikas Bank and Kumari Bank’s Jugal Rural Municipality branch and Chautara branch of Sindhu Bikas Bank.
Applications can be place for minimum 10 units and maximum 7000 units.
