Sanima Middle Tamor IPO is closing on the Magh for Nepalese workers who are abroad; the deadline for project-affected locals has been extended until Falgun 04.

Notice Date: February 12, 2023

Sanima Middle Tamor Hydropower Limited stopped issuing its initial public offering (IPO) to Nepalese individuals working overseas on Magh 18. However, the company has extended the deadline for the IPO issuing to the general public till 4th Falgun 2079.

To develop and manage the Middle Tamor Hydropower Project, Sanima Middle Tamor Hydropower Ltd. (SMTHL) was founded and formed in the year 2016 as a Special Purpose Vehicle (SPV) Company with its office located in Dhumbarahi, Kathmandu, Nepal (MTHP). Sanima Middle Tamor Hydropower Limited’s long-term bank facilities continue to carry the “CARE-NP BB” rating from CARE Ratings Nepal Limited (CRNL).

Sanima Middle Tamor IPO is closing on the of Magh for Nepalese workers who are based abroad; the deadline for project-affected locals has been extended until Falgun 04

More about Sanima Middle Tamor IPO is closing on the of Magh for Nepalese workers who are based abroad; the deadline for project-affected locals has been extended until Falgun 04

The corporation has extended the deadline for locals impacted by the project until the fourth day of Falgun in 2079. The problem began on Magh 4, 2079. Beginning on Magh 18, Sanima Middle Tamor Hydropower Limited stopped offering its initial public offering (IPO) to Nepalese citizens living abroad.

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The manager of the issuance is Sanima Capital Ltd. According to CDSC, 13,174 applications for 918,510 units have been received from Nepalese nationals working abroad. Therefore, there has already been a 1.83 times oversubscription for the issue.

The issued capital of the firm is Rs. 3.33 Arba, or 33,32,500 unit shares, or 10%. Distributed to Taplejung District citizens who the project would impact are funds of Rs. 10 crores. 49,98,750 unit shares, or 15% of the company’s existing capital, will be issued later.

10% of the shares, or 499,875 units, in this public sale that closes today have been reserved for Nepalese nationals working abroad. Project-affected locals and Nepalese nationals working abroad should submit applications in quantities of at least 10 units and up to 20,000 units.

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