Super Madi Hydropower has published a notice extending the project-affected locals’ deadline until Poush 20 for Super Madi Hydropower Ltd.

Notice Date: December 30, 2022

Super Madi Hydropower Limited will no longer issue its initial public offering (I.P.O.) to Nepalese residents who live and work abroad as of today’s banking hours, or Poush 5. The corporation has extended the deadline for residents affected by the project until Poush 20, 2079. It all began on Mangsir 20, 2079.

Deadline extending for Super Madi Hydropower

More about the Deadline extension for Super Madi Hydropower Ltd.

10%, or 10,50,000 unit shares, of the firm’s 2.10 Arba-issued capital are being distributed to Pokhara Metropolitan citizens and Kaski District (Madi VDC) residents affected by the project. 21,00,000 unit shares, or 10% of the company’s existing capital, will be issued later. 2,10,000 units, or 10% of the shares, are reserved for Nepalese employed abroad. Project-affected locals and Nepalese nationals working abroad should submit applications in quantities of at least ten units and up to 50,000 units. Sanima Capital Ltd is the issue manager of this I.P.O.

See also  Sanima Middle Tamor Hydropower has issued its IPO shares from 4 Magh to Nepalese Employed abroad and Locals of the Taplejung District

According to C.D.S.C., 7,707 applications for 773,770 units have been received from Nepalese nationals working abroad. As a result, the issue has gotten 3.68 times more attention than was anticipated. I.C.R.A. Nepal has assigned Super Madi Hydropower Limited an Issuer Rating of [ICRANP-IR] B.B. (pronounced ICRA NP issuer rating double B). For issuers with this grade, there is a slight risk of default due to the rapid servicing of financial obligations.

Minimum number of shares to be applied for ten shares
A maximum number of shares to be given on application: 50,000 to be paid at Rs.100/- per share.

Where to see and get the details:

1. Sanima Capital Limited, Some Marg-01, Naxal, Kathmandu and Website: www.sanima.capital

Super Madi Hydropower Limited, K.M.N.P. 30, Dillibazar, Kathmandu and Website: www.supermadihydro.com.np
3. Nepal Securities Board, Khumaltar, Lalitpur, and website: www.sebon.gov.np

For detailed information regarding this issue, please refer to the invitation letter published in the National Daily on 13 November 2079 or the website of the Issuing Company: www.supermadihydro.com.np, the website of the Nepal Securities Board: www.sebon.gov.np and the website of the Issuing and Sales Manager: Please see the “Description-Letter” available at www.sanima.capital.

See also  Singati Hydropower IPO Result

For more content, please follow, Wapnepal.