The Sanigad Hydro Limited IPO opens to the general public on May 28. This company has decided to proceed with its IPO after issuing the IPO to people living in the affected region, as well as to foreign laborers from Nepal.
These shares will comprise 30% shares of the total issued capital of Rs 2.85 billion. Therefore, the company will offer for sale to the general public, 8.55 million units of shares having a value of Rs 855 million. In phase one, the company had offered for sale 2.85 million units of shares to locals of affected areas, along with 10 percent of the total general public quota, which is 570,000 units of shares having Rs 57 million. Additionally, 171,000 units have been reserved for employees and 285,000 units for mutual funds.
At present, the company will release 4,674,000 units of share valued at Rs 467.4 million to general public through second phase IPO.
The eligible investors can purchase 10 to 20,000 units of share as minimum and maximum respectively. The last date of subscription for earlier and later phases is June 3 and June 11 respectively.
Rating of BB- by ICRA Nepal is given for this issuing company, which shows the risks are average.
The issue manager for Sanigad Hydro Limited IPO is Laxmi Sunrise Capital. The eligible investors can apply from all C-ASBA-approved BFIs and Meroshare.
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