Makar Jitumaya Suri Hydropower Company is set to enter the second phase of its Initial Public Offering( IPO) by offering shares to the general public starting from Chaitra 19, 2079 BS.
The company plans to issue a aggregate of shares, which includes the under- subscribed shares from the first phase. Out of these,,070 shares are reserved for collective fund schemes, while,028 shares are distributed for the company’s workers. The remaining shares will be available for the general public to buy.
The IPO will close on Chaitra 22, 2079 BS if completely subscribed, else, the deadline for operation will extend until Baisakh 3, 2080 BS. The minimum and maximum shares that can be applied for are 10 and,000, independently.
In the first phase of the IPO, the company had vended shares to the locals of the design affected areas and Nepalese in foreign employment. The locals could apply for a minimum of 10 shares and a outside of,000 shares. The IPO for the locals was closed on Falgun 15, 2079 BS, while the IPO for Nepalese in foreign employment closed on Magh 29, 2079 BS.
The hydropower design, including both phases, is issuing shares at a face value of Rs 100 each, amounting to a total public issue of Rs22.80 crores. Prabhu Capital is the issue and deals director for the IPO, with CEO Himal Gurung and Managing Director Dinesh Thakali concertedly subscribing the agreement for the IPO issue and trade.
Makar Jitumaya Suri Hydropower Company was formed by incorporating Makar Jitumaya HydropowerPvt.Ltd. with Suri Khola HydropowerLtd. on July 15, 2021. The company is developing two hydropower systems in Dolakha quarter- Suri Khola Hydropower Project(6.4 MW) and Upper Suri Hydropower Project( 7 MW). The company has inked a Power Purchase Agreement( PPA) with NEA for the trade of6.4 MW electricity on June 3, 2015, and for 7 MW on July 26, 2018. After the IPO, the public and locals will hold 30 percent of the shares in the company, with the remaining 70 percent possessed by the promoters.