Kathmandu. The deadline for the project-affected locals to fill the IPO of Sanigad Hydro has been extended.
The company had issued the initial public offering (IPO) in the first phase from March 8 for the locals of the project-affected areas and the Nepalis working abroad. Nepalis working abroad could apply till the banking deadline of March 11.
The IPO was scheduled to be issued on April 22. According to Laxmi Sunrise Capital, the issue manager, the locals can apply for the IPO till April 20.
The company was allowed to issue 8.55 million units of shares at a face value of Rs 85.50 crore, which is 30% of the issued capital of Rs 2.85 billion. Out of the issued capital, the company is issuing 28,50,000 units of ordinary shares to the locals of the project-affected areas. Out of them, 18,52,500 units of shares have been set aside in Bungal Municipality Ward No. Residents of ward no. 1, 2 and 4 and the remaining 997,500 units of land will be allocated to ward no. 1, 2 and 4 of Bungal Municipality. Residents of Provinces 3, 5, 6, 7, 9, 10 and 11 have been allocated for the residents.
The interested bidders can bid for the shares from Laxmi Sunrise Bank’s Chainpur branch, Global IME Bank, Rastriya Banijya Bank and Agriculture Development Bank’s Bajhang branch.
