The public is now being issued (IPO) shares by Solar Farm Limited.
The company has designated Kumari Capital Limited as the issue and sales manager for this reason. Between the company and Kumari Capital Limited, a public offering agreement was struck. The contract was signed by Pushpa Sharma, CEO of Kumari Capital, and Mr. Mohan Gurung, Chairman of Solar Farm Limited.
The business must now submit the application to the Nepal Securities Board (SEBON). The company can issue the shares to the general public when SEBON gives its approval.
The company will offer shares to the residents of the project-affected areas in the initial phase. Similar to the first phase, the second will see the hydropower float shares to the broader public, including the company’s staff members and mutual fund plans.
About Solar Farm Limited
The company that generates solar energy is called Solar Farm, and it was founded in 2017. It was the first business to sign a Power Purchase Agreement (PPA) for the purchase of solar energy from the Nepal Electricity Authority (NEA).
The business is now running a 5 MW solar power plant in Tanahun District’s Shuklagandaki Municipality. Since September 14, 2021, the project has been using solar power to generate electricity.
Currently, Solar Farm Limited has a paid-up capital of Rs. 45 crores, a Rs. 65 crore issued capital, and a Rs. 65 crore authorized capital.