Ingwa Hydropower has released a notice regarding issuing IPO for Locals and Nepalese Workers Working Abroad begins on March 5. The project-affected people can apply for the IPO share issued for the locals.
Notice Date: March 8, 2023
On Ashad 9th, 2066, Ingwa Hydropower Ltd was established as a private limited company and registered with the business registrar under registration number 63728/065/066. The company’s registered office is in Thapathali, Kathmandu.
The Arun Valley Hydropower Company Limited group, led by Mr. Guru Prasad Neupane, is the main promoter of the business. The new shareholders received possession of the business on Ashad 12, 2071. On Bhadra 9th, 2071, the firm changed its name to Pubic Ltd and received the registration number 125983/071/072. The company aims to create and run hydropower projects to help Nepal generate electricity.
More about Ingwa Hydropower | IPO for Locals and Nepalese Workers Working Abroad begins on March 5
The project-affected people of Taplejung District and Nepalese citizens working abroad can purchase shares of Ingwa Hydropower Company commencing today or on Falgun 21, and the offering will finish on Chaitra 5, 2079.
10%, or 6,00,000 unit shares, worth Rs. 6 crores, of the company’s Rs. Sixty crores in issued capital have been distributed to Taplejung District citizens who the project will impact.
12,00,000 unit shares, or 20% of the company’s capital, will be issued later. 10% of the 120,000 shares sold in this public offering have been reserved for Nepalese nationals employed abroad. The promoter-public share ratio will be 70:30 following this IPO.
Applications must be submitted to at least ten units and up to 20,000 units by project-affected residents and Nepali citizens working abroad. SBI Merchant Banking Ltd. of Nepal is the issuing manager.
It should be noted that if the issue is not subscribed to by the early closing date, it may be extended until the 20th Chaitra for residents of the Taplejung District.
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