Suryakund Hydroelectric Limited has opened its Initial Public Offering (IPO) for the general public starting today. In this phase, the company has issued 572,431 ordinary shares.
According to the company, out of the total issued shares, 34,484 shares have been allocated for mutual funds and 13,793 shares for employees. The remaining shares are available for general investors. Applicants can apply for a minimum of 10 shares and a maximum of 50,000 shares.
Investors can apply for the IPO through ASBA member banks and financial institutions approved by the Securities Board of Nepal, along with their designated branch offices. Applications can also be submitted online through the “Mero Share” system.
The IPO will close early on Magh 21. If all shares are not subscribed by then, the issue will remain open until Falgun 3. Kumari Capital Limited is serving as the issue and sales manager for the IPO.
Earlier, on Mangsir 25, the company received approval from the Securities Board of Nepal to issue 1,379,350 ordinary shares worth NPR 137.935 million. Accordingly, in the first phase, the IPO was issued from Poush 9 for project-affected local residents and Nepali citizens working abroad. Following the allotment of shares in the first phase, the company has now launched the second phase of the IPO for the general public starting today.
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