Makar Jitumaya Suri Hydropower Company is going to issue IPO shares for locals of Dolakha District & Nepalese employees working abroad from 15th Magh

Makar Jitumaya Suri Hydropower Company is going to issue IPO shares for locals of Dolakha District & Nepalese employees working abroad from 15th Magh.

The Dolakha District residents who will be impacted by the project. As well as Nepalese nationals who are employed overseas have received an offer letter. From Makar Jitumaya Suri Hydropower Company Ltd to participate in an IPO.

The initial public offering (IPO) for locals and Nepalese nationals working abroad will start on 15 Magh and end on 29 Magh 2079. It should note that for Dolakha District residents, the problem may extend until the 15th Falgun if the early closing date is not met. The issue, though, won’t continue through the early closing date for Nepalese nationals who are employed abroad.

10%, or 7,60,000 unit shares worth Rs. 7.6 crores, of the company’s Rs. 76 crores in issued capital have give to locals of Dolakha District who are impacte by the project. A later date will see the issuance of 15,20,000 unit shares, or 20% of the company’s issued capital, for the general public. 10% of the shares, or 152,000 units, of this public offering, have been set aside for Nepalese nationals working overseas. The lowest application quantity for the project’s localities is 10 units. While the maximum application quantity is 10,000 units. For Nepalese citizens working overseas, the minimum & maximum application amounts are 10 and 50,000.

The issue manager of this IPO is Prabhu Capital Limited. The promoter-public share ratio will be 70:30 after this IPO.

About the Company

Makar Jitumaya Suri Hydropower Ltd has give the issuer rating of “CARE-NP BB (Is)” by CARE Ratings Nepal Ltd (CRNL). In Nepal, issuers with this grade are thought to have a modest risk of failing to make payments on time for their financial obligations.

After the merging of Suri Khola Hydropower Limited and Makar Jitumaya Hydropower Private Limited on July 15, 2021. Makar Jitumaya Suri Hydropower Limited was establish. The combined company is now working on two hydropower projects in Nepal’s Dolakha province. The 6.4 MW run-of-river Suri Khola Hydropower Project and the 7 MW Upper Suri Hydropower Project.

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