The Sagarmatha Jalbidhyut Company has extended the deadline for selling 11,20,000 units of IPO shares to residents of the Illam District. The company has re-extended the issuing date of IPOs until the 5th day of Falgun 2070.
Notice Date: February 9, 2023
The problem began on Magh 5, 2079. Residents of the Illam District who the project will impact will get 10% of the company’s issued capital, or 11,20,000 unit shares worth Rs. 11,20 crores. The Sagarmatha Jalbidhyut Company intends to float the claims to the general public in the second phase after allotment of the shares to locals and migrant workers.
More about The Sagarmatha Jalbidhyut Company has extended the deadline for selling 11,20,000 units of IPO shares to residents of the Illam District.
43,68,000 unit shares, or 39% of the company’s existing stock, will be issued later. In this IPO, which ended on the 19th Magh, 10% of the shares, or 436,800 units, were set aside for Nepalese people working overseas. The minimum and maximum application quantities for the project’s localities are 10 and 10,000 units, respectively.
Locals from the area affected by the project and migrant workers are eligible to apply for a minimum of 10 shares. Locals are limited to 10,000 shares, while migrant workers can use 50,000 kittas.
For the past 2.5 years, Sagarmatha Jalbidhyut Company Ltd has been generating energy from the 9.6 megawatts Supermai A Hydropower Project. The hydropower’s construction cost per megawatt is Rs 19.84 crores.
The hydroelectric company’s issue and sales manager is Prabbhu Capital. Locals can apply for the IPO by visiting the project site, specific Prabhu Bank, Century Commercial Bank, and Prime Commercial Bank branch locations, as well as institutions authorized by the Securities Board of Nepal to provide CASBA services. Through Mero Share, migrant employees can apply for the IPO.
For more related content, please follow, Wapnepal.
