Shikhar Power Development Limited has extended the deadline to apply for its initial public offering (IPO) issued for local residents of the project-affected area until Falgun 8. The company has stated that if applications exceed demand, the issue may be closed before the deadline.
The company has received approval to issue a total of 3.2 million shares, out of which 980,000 shares have been reserved for local residents of the project-affected area. Applicants can apply for a minimum of 10 shares and a maximum of 10,000 shares.
Shikhar Power Development is currently operating the Bhimkhola Small Hydropower Project with a capacity of 4.96 megawatts. ICRA Nepal has assigned the company a Double B rating, indicating a moderate level of risk.
Applications can be submitted through Global IME Capital as well as designated bank branches in Baglung and surrounding areas.
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