Ingwa Hydropower | IPO for Locals and Nepalese Employees Working Abroad starts Today
The project-affected residents of Taplejung District and Nepalese citizens working abroad can purchase shares of Ingwa Hydropower Limited starting today, or on Falgun 21, and the offering will end on Chaitra 5, 2079.
It should note that for Taplejung District residents if the issue is not subscribed by the early closing date, it may be prolonged till the 20th Chaitra.
For Nepali nationals employed overseas, the problem won’t be postponed through the early closure date, nevertheless.
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The firm has an Rs. 60 crores issued capital, of which 10%, or 6,00,000 unit shares, worth Rs. 6 crores, have distribute to Taplejung District residents who would impacte by the project.
A later date will see the issuance of 12,00,000 unit shares, representing 20% of the company’s outstanding capital.
10% of the 120,000 units of shares in this public offering, which will go on sale today, have set aside for Nepalese nationals working overseas. After this IPO, the promoter-public share ratio will 70:30.
Both project-affected residents and Nepali nationals working abroad must submit applications in quantities of at least 10 units and up to 20,000 units. The issue manager is Nepal SBI Merchant Banking Ltd.
About the Company
On June 23, 2009, Ingwa Hydropower Ltd was established as a Private Limited business. On August 25, 2014, it underwent a conversion into a Public Limited company.
For the purpose of constructing a 9.70 MW run-of-river Upper Ingwa Khola hydropower project (UIKHP) in Nepal’s Panchthar district, the company has received institutional and private support.
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