Sanima Middle Tamor Closing the IPO Issue for Project Affected Locals from 19th of Magh
From 19th Magh of 2079, Sanima Middle Tamor Hydropower Limited will no longer accept applications from residents who would be harmed by the project.
The issue start on Magh 4th, 2079. The firm had previously said in a notification that the deadline for the IPO issue would extend to Falgun 04, but in this instance, the subscription will conclude as it receives a sufficient amount of interest. The firm will close its issuance from today through the end of the banking hours due to the present oversubscription of the offering.
10%, or 33,32,500 unit shares, worth Rs. 10 crores, of the company’s Rs. 3.33 Arba in issued capital given to Taplejung District citizens who are affected by the project.
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A later date will see the issuance of 49,98,750 unit shares, representing 15% of the company’s outstanding capital. 10% of the 499,875 units of shares in this public offering, which concluded on Magh 18, were reserved for Nepalese nationals working overseas.
The minimum and maximum application quantities are 10 and 20,000 units, respectively. An issue manager of this IPO is Sanima Capital Ltd.
The long-term bank facilities of Sanima Middle Tamor Hydropower Ltd continue to rate by CARE Ratings Nepal Ltd (CRNL) as “CARE-NP BB.”
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