The company started issuing initial public offering from January 11. The company is issuing 1,476,400 units of shares at a face value of Rs 100 worth Rs 147.64 million to locals of the affected area of Sindhupalchowk.
The local residents of Bhotekoshi Rural Municipality (former Fulpingkatti and Marming VDC), Bharhabise Rural Municipality (former Gati, Maneshwora and Ramche VDC), Tripura Municipality (former Daskun and Tekanpur VDC) and Sunkoshi Rural Municipality (former Pangretar VDC) of sindhupalchowk can apply for the shares.
The company has appointed Siddhartha Capital as its issue manager. The interested applicants can apply for a minimum of 50 units with Rs 5000 and a maximum of Rs 7,380 for Rs 738,000.
The applicants can apply for the shares from the office of Shiva Shree Hydropower at Bhotekoshi Rural Municipality and Barhabise branch of Himalayan Bank, NIC Asia Bank, Civil Bank and Nepal Bangladesh Bank.
Moreover, the interested applicants can apply from Khadichaur and Barhabise branch of Sindhu Bikas Bank.
ICRA Nepal has assigned grade 4 rating to the issuance indicating below average fundamentals.
The company obtains SEBON approval to issue 10 percent shares of its issued capital to locals of affected area on December 25. After the first phase issue, the paid-up capital will reach Rs 1.25 billion.
