The local deadline has been extended until the 15th of Falgun as Makar Jitumaya Suri Hydropower Company Limited closes its issuance for Nepalese working abroad on March 29, 2079. Now the locals can apply for the IPO shares till the 15th of Falgun, which is the extended deadline for Makar Jitumaya Suri Hydropower Company Limited’s IPO

Notice Date: February 14, 2023

CARE Ratings Nepal Limited has granted Makar Jitumaya Suri Hydropower Limited the issuer rating of “CARE-NP BB (Is)” (CRNL). Issuers with this grade are viewed as having a low risk of not meeting their financial obligations on time in Nepal.

The deadline for locals has been extended until the 15th of Falgun as Makar Jitumaya Suri Hydropower Company Limited closes its issuance for Nepalese working abroad on March 29th, 2079.

Following the merger of Makar Jitumaya Hydropower Private Limited and Suri Khola Hydropower Limited. Makar Jitumaya Suri Hydropower Limited was established on July 15, 2021. The united firm is now engaged in two hydroelectric projects, the 6.4 MW run-of-river Suri Khola Hydropower Project and the 7 MW Upper Suri Hydropower Project, located in Nepal’s Dolakha district.

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More about:- The deadline for locals has been extended until the 15th of Falgun by Makar Jitumaya Suri Hydropower Company Limited.

The project-affected locals’ IPO issue deadline has been extended till 15 Falgun 2079. As of today, or the 29th Magh, Makar Jitumaya Suri Hydropower Company Limited is terminating the offer of its IPO to Nepalese individuals working overseas. 10% of the issuance, or 7,60,000 unit shares valued at Rs. 7.6 crores, is due on Mah 15th, 2079. Residents of the Dolakha District who the project would impact have received a portion of the Company’s Rs. Seventy-six crores in issued capital.

For localities impacted by the project, the minimum applicant quantity is ten units, and the maximum applicant quantity is 10,000 units. For Nepalese personnel working overseas, the lowest application quantity is ten units, while the maximum applicant quantity is 50,000 units.

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 working abroad, 10% of the shares, or 152,000 units, of this public offering have been designated. The problem will be resolved now or on March 29, 2079. Prabhu Capital Ltd. is the issue manager. The promoter-public share ratio will be 70:30 following this IPO.

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