Super Khudi Hydropower Limited has opened its IPO from today. The company has made the IPO available for local residents of the project-affected area and Nepalis working abroad.
The company had received approval to issue 31 lakh shares, equivalent to 20 percent of its issued capital of Rs 1.55 billion, amounting to Rs 310 million. Out of this, 1.55 million shares with a face value of Rs 100 per share are being issued for local residents of the project-affected areas.
Of the shares allocated for local residents, 40 percent, or 620,000 shares, are reserved for residents of wards 2 and 3 of Marsyangdi Rural Municipality in Lamjung district, which are directly affected by the project. The remaining 60 percent, or 930,000 shares, are allocated for residents of wards 1, 4, 5, 6, 7, 8, and 9 of Marsyangdi Rural Municipality.
In addition, 10 percent of the shares reserved for the general public, amounting to 155,000 ordinary shares at a face value of Rs 100 per share, have been allocated for Nepali citizens working abroad who have obtained labor approval from the relevant government authorities.
Applicants can apply for a minimum of 10 shares and a maximum of 100,000 shares. For local residents of the project-affected area, the IPO will close as early as Magh 6 and no later than Magh 21. For Nepalis working abroad, the IPO will close as early as Poush 25 and no later than Magh 6.
Global IME Capital Limited has been appointed as the issue and sales manager for the IPO. Local residents can apply through the Besishahar branches of Prabhu Bank, Global IME Bank, Agricultural Development Bank, and Prime Commercial Bank, as well as the Bhulbhule branch of Himalayan Bank. Nepalis working abroad can apply through the C-ASBA system via banks and financial institutions participating in ASBA services with approval from the Securities Board of Nepal.
About the Author
