Makar Jitumaya Suri Hydropower Company Limited is closing its issue for Nepalese Working Abroad from 29th Magh 2079 | Extended the deadline of Locals till 15th of Falgun

Makar Jitumaya Suri Hydropower Company Limited is closing its issue for Nepalese Working Abroad from 29^th Magh 2079. | Extended the deadline of Locals till 15^th of Falgun.

The IPO issuance date for project-affected locals has extend till 15th Falgun, 2079. Makar Jitumaya Suri Hydropower Company Limited is closing the offer of its IPO to Nepalese people working abroad as of today, or 29th Magh.

The issue starts on Magh 15th, 2079. 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 Dolakha District residents 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 designate for Nepalese nationals working overseas. The issue is going to end from today or 29^th Magh 2079.

The minimum applicant quantity is 10 units and the maximum quantity is 10,000 units for the project-affected locals. Also, the minimum applicant quantity is 10 units and the maximum quantity is 50,000 units for Nepalese employees working abroad.

The issue manager is Prabhu Capital Ltd. After this IPO, the promoter-public share ratio will be 70:30.

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

About the Makar Jitumaya Suri Hydropower Company

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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