Another IPO will be launched from June 8

shewta ganga hydropower ipo

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shewta ganga hydropower ipo

Shweta Ganga Hydropower and Construction Limited is going to open IPO issue and sale from June 7. The company is planning to issue an IPO for the residents of the project affected areas.

The company is about to issue 1.593 million ordinary shares with a face value of Rs 100 per share, which is 10 percent of the issued capital of Rs 1.59 billion.

Among them is Likhu Tamakoshi of Ramechhap district, ward no. 2, 3 and 4 and Likhu VDC of Okhaldhunga district. Vada no. For the residents of 4th, 5th, 6th, 7th, 8th and 9th, 70 percent of the total shares, i.e. 1.115 million 100 lots, will be issued to Likhu Tamakoshi VDC of Ramechhap district, which is the transmission line of the project. Ko Vada no. 5, 6 and 7 and ward no. 11, 12 and 13 and ward no. For the residents of 1 and 3, 25 percent or 3 lakh 98 thousand 250 lots

And Likhu Tamakoshi VDC of Ramechhap district. Ko Vada no. 1 and ward no. Of Likhu VDC of Okhaldhunga district. 1, 2 and 3 lakh 5 percent or 79 thousand 650 lots will be distributed.

The eviction shutdown will take place on June 20 at the earliest and on July 7 at the latest. Applications for the IPO can be submitted from Yasam Branch of Nepal SBI Bank, Monthly Branch of Sangrila Development Bank and venues of the company.

In addition, applications can be submitted from all C-ASWA member banks and financial institutions and their branch offices approved by the Nepal Securities Board.

The issue and sale manager of the company is Sanima Capital Limited. Investors will have to apply for a minimum of 10 lots of shares and a maximum of 10,000 lots.

Care Rating Nepal has given CareNP Double B IS rating to the company in the rating given for IPO issue. This indicates a moderate risk in the company’s ability to bear responsibility.

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