Kathmandu. Shikhar Power Development Limited (HPD) is going to open its IPO from January 20.
In the first phase, the company will be issuing IPO to the locals of project-affected areas and Nepali migrant workers abroad. The Securities Board of Nepal (SEBON) has granted permission to the company to issue 3.2 million units of shares at a face value of Rs 100.
Out of the total number of units, the company has allocated 9,80,000 units of shares to the project-affected area of Badigad Rural Municipality of Baglung. All wards from ward 1 to 10 and the area affected by the project’s electricity transmission line are affected by the Dhorpatan Municipality ward no. 1 of Baglung. It will be issued to residents of Wards 2, 3, 4 and 5.
Similarly, out of the total 22,20,000 units set aside for the general public, 10% i.e. 2,22,000 units will be issued to the citizens of Nepal.
Both parties can apply for 10 units and maximum 10,000 units of shares in the IPO. Affected locals can collect the application forms from Global IME Bank’s branch at Naxal, Burtibang and Baglung Bazaar, Prabhu Bank’s branch at Gwalichaur and Garima Bikas Bank’s branch at Burtibang and Shine Resunga Development Bank’s branch at Burtibang.
Nepalis who are on foreign employment can apply online from the banks and financial institutions participating in the ASBA service and their designated branch offices and also online.
For project-affected locals, the IPO will be issued on February 20 at the earliest and on February 22, while for the foreign workers, it will be on Magh 9 at the earliest and for the foreign workers, it will be on Magh 20 at the earliest.
Global IME Capital has been appointed as the issue manager for the IPO issuance.
