SuryaKund hydro electric limited is set to launch its initial public offering from Poush 9, which falls on December 24. However, the ipo will not open for everyone at once. In the first phase, the company is offering shares only to project-affected local residents and nepalis working abroad.
Who can apply?
The first phase targets local people from dupcheshwar rural municipality in nuwakot district who were affected by the project. Along with them, nepalis who have taken official labor approval and are currently working overseas will also be able to apply.
For local residents, the company will issue a total of 689,675 shares. Applicants from this group can apply for a minimum of 10 shares and a maximum of 50,000 shares. The application deadline for locals is Poush 23. If there are not enough applications by that date, the deadline may be extended until Magh 8.
Nepalis working abroad will receive 68,967 shares in this phase. They can also apply for at least 10 shares and up to 50,000 shares. The last date to apply for this group is Poush 14.
| Applicant Group | Total Shares Available | Minimum Shares per Applicant | Maximum Shares per Applicant | Application Deadline |
|---|---|---|---|---|
| Local residents | 689,675 | 10 | 50,000 | Poush 09-Poush 23 |
| Nepalis abroad | 68,967 | 10 | 50,000 | Poush 09- Poush 14 |
When will the IPO open for general public?
After completing this first phase, the company will issue shares to the general public. Kumari capital has been appointed as the issue and sales manager for the ipo.
The Nepal Securities board approved the ipo on Mangsir 25, which corresponds to december 11. SuryaKund hydro has already completed its 11-megawatt upper tadi khola hydropower project in dupcheshwar rural municipality of nuwakot. The company has been selling electricity to the nepal electricity authority since shrawan.
Api power company limited holds a majority stake in SuryaKund hydro electric limited.
