Sagarmatha Jalbidhyut Company is Closing its 35,81,760 Units of IPO Shares today

Sagarmatha Jalbidhyut Company is Closing its 35,81,760 Units of IPO Shares today

From today or the 12th Chaitra of 2079, Sagarmatha Jalbidhyut Company Limited will close the offer of 35,81,760 unit shares with a face value of Rs. The issue arose on the eighth Chaitra.

The business expects this IPO to bring in Rs 35.81 crore. Out of the total 43,68,000 units, 10%, or 436,800 units, have already issued and allocated to Nepalese citizens living and working abroad.

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Of the remaining shares, 5%, or 218,400 units, have set aside for mutual funds, and the remaining 3%, or 131,040 units, have reserved for the company’s employees.

Sagarmatha Jalbidhyut Company

The general public will receive the remaining 35,81,760 units. If the IPO is issue, the company’s paid-up capital will Rs. 1.12 Arba.

Previous grants made by the company included 11,20,000 unit shares valued at Rs. 11.22 crores to the inhabitants of Illam District who will impacted by the project and 436,800 unit shares to Nepali citizens working overseas.

51% of the company’s shares are owne by the promoter shareholders overall. Prabhu Capital Ltd is select as the issue manager for this IPO. For this IPO, applicants may submit up to 10,000 units, with a minimum of 10.

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12,967,630 units have received 11,48,679 applications, according to CDSC. As a result, as of March 24, the issue has already received 3.62 times its initial demand (5 pm).

Sagarmatha Jalabidhyut Company Limited’s issuer rating from ICRA Nepal is [ICRANP-IR] BBB-, which is pronounced as “triple B minus” in the rating system.

When it comes to prompt payment of financial commitments, issuers with this grade are thought to have a modest degree of safety.

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