Sagarmatha Jalbidhyut Company is Going to Issue an IPO to the Nepalese Employee working abroad and Locals of Illam District from 5th Magh

Sagarmatha Jalbidhyut Company is Going to Issue an IPO to the Nepalese Employee working abroad and Locals of Illam District from 5th Magh.

An offer letter to issue an Initial Public Offering (IPO) to the project-affected residents of the Ilam District. And Nepalese nationals working abroad have release by Sagarmatha Jalbidhyut Company Ltd.

The initial public offering (IPO) for locals and Nepalese nationals working abroad will begin on March 5 and end on March 19, 2079. Keep in mind that for Ilam District residents. If the issue is not subscribed by the early closing date, it may be prolonged till the fifth day of Falgun. The issue, though, won’t continue through the early closing date for Nepalese nationals who are employed abroad.

10% of the company’s issued capital, or 11,20,000 unit shares worth Rs. 10 crores. Have allot to residents of the Illam District who will impacte by the project. A later date will see the issuance of 43,68,000 unit shares. Or 39% of the company’s outstanding capital. 10% of the shares, or 436,800 units, of this public offering. Have to designate Nepalese nationals working abroad. The offering will begin on the aforementioned date.

The lowest application quantity for the project’s localities is 10 units, while the maximum application quantity is 10,000 units. The minimum and maximum application quantities for Nepalese nationals working abroad are 10 and 50,000, respectively. The issue manager of this IPO is Prabhu Capital Ltd.

About the Company: Sagarmatha Jalbidhyut Company 

After this IPO, the promoter-public share ratio will be 51: 49. Sagarmatha Jalabidhyut Company Limited has give an issuer rating by ICRA Nepal of [ICRANP-IR] BBB- (pronounced ICRA NP issuer rating triple B minus). Issuers with this rating are thought to have a reasonable level of safety when it comes to prompt payment of debts.

In November 2015, Sagarmatha Jalbidhyut Company Ltd is establish in 2015 Nov. The company has a gross installed generation capacity of more than 18 MW when combined with its subsidiaries and jointly managed companies. In partnership with NEA, the company is anticipated to meet the electricity requirements of more than 1000 families.

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