Kathmandu — Suryakunda Hydroelectric Company Limited is set to issue its initial public offering (IPO) to the general public starting from Magh 18. The company is opening the IPO after completing the first-phase distribution to project-affected local residents and Nepali citizens employed abroad.
The company has received approval from the Securities Board of Nepal to issue a total of 1,379,350 shares at a face value of Rs 100 per share. In the first phase, 689,675 shares were allotted to project-affected locals, while 689,976 shares were allocated to Nepalis working overseas.
Following these allocations, the company will now issue the remaining 572,431 shares to the general public. Out of this total, 13,793 shares have been reserved for company employees and 34,484 shares have been set aside for collective investment funds.
Investors can apply for a minimum of 10 shares and a maximum of 50,000 shares. Applications will be accepted only until Magh 21. Kumari Capital Limited has been appointed as the issue and sales manager for the IPO.
The company has urged interested investors to submit their applications within the stipulated timeframe through the C-ASBA system from authorized banks and financial institutions.
