Kathmandu. Today is the last day to apply for the IPO of Suryakunda Hydro Electric Limited. The company has started the IPO from December 9 for the locals of the project-affected area.
The company was allowed to issue 13,79,350 units of shares worth Rs 13,79,35,000 i.e. 20% of the issued capital of Rs 68,96,74,400. Out of the total paid-up capital, 10% of the issued capital i.e. Rs 6,89,67,500 units of ordinary shares of Rs 100 per share will be issued to the locals of the affected area. All the residents of Dupcheshwor Rural Municipality of Nuwakot can apply for the shares.
Applications can be place for minimum 10 units and maximum 50,000 units. Kumari Capital Limited has been appointed as the issue manager for the IPO issuance.
Care Ratings Nepal has assigned CareNP Double B Minus Issue Rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.
The locals can collect the applications from Jyoti Bikas Bank’s Samundratar branch, Agriculture Development Bank’s Khairenitar branch, Rastriya Banijya Bank’s Khairenitar branch, Trade Tower, Thapathali registered office and Dupcheshwar Rural Municipality. Locals of the project-affected areas have to pay Rs 2 as application fee for the share purchase application.
