An initial public offering will be made by Sanima Middle Tamor Hydropower Limited (IPO).

The firm will sell shares to people in the project’s affected areas and to Nepalese working abroad starting in Magh 4, 2079 BS, during the initial round of the initial public offering (IPO).

The IPO for locals would end on Magh 18, 2079 BS if it is completely subscribed. However, if it continues to be undersubscribed beyond that time, the application deadline will be extended until Falgun 4, 2079 BS.

The IPO for Nepalis working abroad would also expire on Magh 18, 2079 BS. The corporation will distribute 33,32,500 shares, or 10% of the issued capital, to citizens of Taplejung District, Phungling Municipality, Phaktalung Rural Municipality, and Mikwa Khola Rural Municipality.

Similar to this, the business intends to sell 4,99,875 shares to Nepalese working abroad, which represents 10% of the general public’s allotment.

A minimum of 10 shares and a maximum of 20,000 shares may be requested by residents. The same applies to Nepalis working abroad, who can subscribe for up to 20,000 shares for a minimum of 10. The company would float 44,98,875 shares worth Rs. 44.98 crores to the general public after issuing shares to locals and foreign-employed Nepalese (excluding shares issued for foreign employed Nepalese).

The hydropower will issue 83,31,250 shares in total, each with a face value of Rs 100. Thus, the total amount of the public offering is Rs. 83.31 crores.

On Poush 7, 2079 BS, the Securities Board of Nepal (SEBON) approved Sanima Middle Tamor Hydropower. On Ashad 24, 2079 BS, the corporation requested permission from the board in an application for the public issuance. The corporation can only float the shares to the public after gaining clearance from SEBON.

The company’s 6th annual general meeting (AGM), held on Push 14, 2078 BS, approved the agenda to flog the shares to the public.

The IPO’s issuance and sales manager is Sanima Capital Limited. The public and locals will own 25% of the company after the IPO (provided it is fully subscribed), while the promoters would own the remaining 75%.

About Sanima Middle Tamor Hydropower

A run-of-river (RoR) project called the 73 Middle Tamor Hydropower Project is being developed by Sanima Middle Tamor Hydropower Ltd. in the Taplejung District’s Phungling Municipality, Phaktalung, and Mikwa Khola Rural Municipalities.

On Jestha 22, 2074 BS (June 5, 2017), the Generation License was initially obtained for 54 MW. Subsequently, the design was updated, and on Mangsir 24, 2075 BS, the Generation License was secured for the revised capacity of 73 MW (December 10, 2018).