With so many IPOs coming up,
Sayapatri Hydropower Limited is going to issue ordinary shares. The company has also applied to the Nepal Securities Board (NSB) for permission to issue ordinary shares.
The company is about to issue 900,000 IPOs worth Rs 90 million to the project-affected locals and the general public.
The company has applied to the Nepal Securities Board to issue an IPO. The IPO issue and sale manager is NIBL S Capital Limited.
The agreement on share issue and sale manager was signed by Badri KC, chairman of Sayapatri Hydropower and Mekh Bahadur Thapa, general manager of NIBL S Capital. At present, the authorized capital of the company is Rs 500 million and the issued capital is Rs 300 million, according to Hydropower.
The company will issue shares worth Rs 90 million at a face value of Rs 100. Of which, in the first phase, the company plans to issue 300,000 shares, which will be 10 percent for the residents of Baglung in the project-affected area. After that, the company will issue 20 percent of the 600,000 shares to the public.
The company has constructed a 2.5 MW Daramkhola A small hydropower project in Baglung. Which has even started production since July 2018.
The project site is about 35 kilometers (20 kilometers of gravel and 15 kilometers of dirt road will be upgraded) from Baglung Bazaar to Ghusmeli village. The ware site of the project is located in Hila and Argal VDCs and the power house is located in Argal VDC.