Kathmandu, June 1 – Sanigad Hydro IPO opens for the general public from today.
The company is issuing 4.674 million shares worth Rs 467.4 million in the second phase of the public offering.
Sanigad Hydro is offering 8.55 million shares worth Rs 855 million, which is 30 percent of its issued capital. Earlier, the company allotted 2.85 million shares to locals of the affected area, 570,000 shares to Nepalis working abroad, 171,000 shares to employees, and 285,000 shares to mutual funds.
Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares.
The IPO will close on June 4 if fully subscribed. If not, the issue will remain open until June 15.
ICRA Nepal has assigned a BB- rating to the company. The rating indicates moderate risk.
The issue manager is Laxmi Sunrise Capital Limited. Investors can apply through C-ASBA-approved banks and financial institutions or via MeroShare.
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