Makar Jitumaya Suri Hydropower Company has offered IPO shares to residents of the Dolakha District and Nepalese workers overseas from Magh 15. The Company said that this IPO is for the Dolakha District residents who are impacted by the projects as well as for those Nepalese Nationals who are employed overseas. 

Notice Date: February 5, 2023

For residents and Nepalese citizens living abroad, the initial public offering (IPO) began on Magh 15, 2079, and will be terminated on Magh 29, 2079. It should be noted that if the early closing date is not met, the issue can persist for residents of the Dolakha District until the 15th Falgun. However, the problem will only last through the early closing date for Nepalese citizens who work abroad.

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Makar Jitumaya Suri Hydropower Company has offered IPO shares to residents of the Dolakha District and Nepalese workers overseas, from Magh 15

About the Company:- Makar Jitumaya Suri Hydropower Company 

CARE Ratings Nepal Ltd has given Makar Jitumaya Suri Hydropower Ltd the issuer rating of “CARE-NP BB (Is)” (CRNL). It is believed that issuers with this grade in Nepal have a low risk of failing to meet their financial obligations on time.

Makar Jitumaya Suri Hydropower Limited was founded following the merger of Suri Khola Hydropower Limited and Makar Jitumaya Hydropower Private Limited on July 15, 2021. The combined business in Nepal’s Dolakha area is now engaged in two hydropower projects: The 7 MW Upper Suri Hydropower Project and the 6.4 MW run-of-river Suri Khola Hydropower Project.

More about Makar Jitumaya Suri Hydropower Company has offered IPO shares to residents of the Dolakha District and Nepalese workers overseas:

10% of the Company’s Rs. Seventy-six crores in issued capital, or 7,60,000 unit shares worth Rs. 7.6 crores have been given to Dolakha District residents who the project will impact. 15,20,000 unit shares, or 20% of the Company’s issued capital, will be made available to the general public later. For Nepalese nationals employed abroad, 10% of the shares, or 152,000 units, of this public offering have been reserved. For the project’s localities, ten units are the minimum application quantity. At the same time, 10,000 units are the maximum application quantity. The minimum and maximum application amounts for Nepalese nationals working abroad are 10 and 50,000, respectively.

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Prabhu Capital Limited, the issue manager of Makar Jitumaya Suri Hydropower Company’s IPO, will share the promoter-public share with a ratio of 70:30. 

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