470 million IPO of a very good company is coming, look where?
At present, IPOs of various companies are being issued one after another. Meanwhile, Shwetaganga Hydropower and Construction Limited is preparing to issue an IPO.
For that, Shwetaganga Hydropower and Construction Limited has appointed Sanima Capital as the disposal and sales manager. Chief Executive Officer Bhishmaraj Chalise on behalf of Sanima Capital and Executive Director on behalf of Shwetaganga Hydropower Dr. Signed by Suvarna Das Shrestha.
Shwetaganga is going to sell 47.79 million IPO lots worth Rs. 477.9 million to the locals, general public and employees affected by the project. The share capital of the company is 30 percent of Rs 1.59 billion.
Shwetaganga is constructing 28.1 MW Likhu Hydropower Project using the Likhu River flowing through the border of Likhu Tamakoshi Municipality of Ramechhap District and Likhu Municipality of Okhaldhunga District.
The electricity generated from this project will be supplied to the proposed 132 KV of Nepal Electricity Authority. There is a plan to connect New Khimti sub-station to the national broadcasting system.
The company has informed that the construction progress of the project has been around 75 percent so far. The company has not yet applied to the Securities and Exchange Board for IPO sale. An IPO is issued only after the application is approved by the Securities and Exchange Board.