Last Day To Apply For IPO Of Sagarmatha Jalvidhyut For Foreign Migrated Workers; Deadline Extended For Locals Of Affected Area

Feb 02, 2023 10:52 AM Merolagani

Today is the last day to apply for initial public offering (IPO) of Sagarmatha Jalvidhyut Company for foreign migrated workers of Nepal.

Meanwhile, it has extended the deadline for locals of affected area February 9.

The company is issuing the IPO to the locals of affected area and foreign migrated workers of Nepal from January 19.

The company is issuing 10 percent ordinary shares of its issued capital which is 1,120,000 units of shares worth Rs 112 million to the locals of affected area of Illam District.

Moreover, it is issuing 10 percent of shares of 4,368,000 units of shares allocated to the general public i.e. 436,800 units to foreign migrated legal workers.

The interested investors can apply for a minimum of 10 units of shares. The locals of affected area can apply for maximum of 10,000 and foreign migrated workers can apply for maximum of 50,000 units of shares.

ICRA Nepal has assigned BBB- rating to the issue indicating moderate risks.

The company has appointed Prabhu Capital as its issue manager. The locals can apply from the project site as well as designated branches of Prabhu Bank, Century Commercial Bank, Prime Commercial Bank and C-ASBA approved BFIs. They can also apply from the website of Prabhu Capital by paying Rs 2 per form.

The foreign migrated workers can apply from ASBA approved BFIs.

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