Today marks the last day for local residents of the project-affected area to apply for the Initial Public Offering (IPO) of Shikhar Power Development Limited.
The company has been authorized to issue 32 lakh shares worth NPR 32 crore, which represents 32.65% of its paid-up capital of NPR 98 crore. Of this, 9 lakh 80 thousand shares worth NPR 9.8 crore (10% of the issued capital) are allocated specifically for residents of the project-affected area, based on the Environmental Impact Assessment report and the electricity generation license. Each share is priced at NPR 100.
Eligible applicants include residents of Wards 1–10 of Badi Gad Rural Municipality, Baglung district, and those from Ward 2 of Dhorpatan Municipality, Baglung district, impacted by the project’s electricity transmission line.
Applicants can apply for a minimum of 10 shares and a maximum of 10,000 shares.
Credit rating: ICRA Nepal has assigned the company an ICRANP Issuer Rating of ‘BB’, indicating a moderate risk in terms of its ability to meet financial obligations.
The share issuance and sale is managed by Global IME Capital Limited. Local residents can submit their applications at the Global IME Bank branches in Burtibang and Baglung Bazaar, Prabhu Bank Badi Gad branch, Garima Bikas Bank Burtibang branch, and Shine Resunga Development Bank Burtibang branch.
A nominal fee of NPR 2 per application is required to obtain the application form.
About the Author
