January 23: Super Madi Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the general public from Monday.
With the allotment of IPO shares to the project-affected locals and Nepali citizens working in foreign countries in the first phase, the hydropower has floated IPO shares to the general public in the second phase.
The hydropower is issuing a total of 17,43,000 units of shares at the face value of Rs 100 per unit of share after allotting the shares to locals, migrant workers and mutual funds. The company has also reserved shares for its employees.
A total of 1,74, 310 individuals will receive 10 units of shares each.
The IPO Offering will close on January 26. If the IPO is not fully subscribed until January 26, the deadline will extend till February 6.
One can apply for a minimum of 10 shares and a maximum of 50,000 units of shares.
Sanima Capital Limited is issue and sales manager.
Interested individuals can apply for the IPO from issue manager and all banks and financial institutions that are C-ASBA members approved by Securities Board of Nepal (SEBON). Investors can also apply for the IPO through Mero Share.
The company is constructing Super Madi Hydropower of 44 megawatt in Kaski district. The estimated cost of the hydropower stands at Rs 190 million per megawatt.