Sanima Middle Tamor Hydropower is going to issue IPO shares to Nepalese Employed abroad and Locals of the Taplejung District from 4 Magh

Sanima Middle Tamor Hydropower is going to issue IPO shares to Nepalese Employed abroad and Locals of the Taplejung District from 4 Magh.

The project-affected residents of Taplejung District as well as Nepalese nationals working overseas have received. An offer letter from Sanima Middle Tamor Hydropower Ltd to participate in an IPO.

The initial public offering (IPO) for locals and Nepalese nationals working abroad will start on March 4 and end on March 18, 2079. It should note that the issue can be prolonged for Taplejung District residents until the fourth Falgun if the issue is not subscribe by the early closure date. The issue, though, won’t continue through the early closing date for Nepalese nationals who are employe abroad.

The company’s issued capital is Rs. 3.33 Arba, of which 10%, or 33,32,500 unit shares, worth Rs. 10 crores. Have distribute to residents of Taplejung District who will be impacted by the project.

Meanwhile, 49,98,750 unit shares, or 15% of the company’s outstanding capital, will eventually be made available to the general public. 10% of the 499,875 units of shares in this public offering, which will trading on the aforementioned date, have designate for Nepalese nationals working overseas.

For both project-affected residents and Nepalese nationals working abroad. The lowest application amount is 10 units, while the maximum application quantity is 20,000 units.

The issue manager of this company is Sanima Capital Ltd. After this IPO, there will a 70:30 promoter-public share ratio.

About the Company: Sanima Capital Limited 

The long-term bank facilities of Sanima Middle Tamor Hydropower Ltd continue to rate by CARE Ratings Nepal Limited (CRNL) as “CARE-NP BB.”

Founded on May 5, 2016, Sanima Middle Tamor Hydro Power Ltd is a public ltd corporation. A 73 MW run-of-river hydropower project called the Middle Tamor Hydropower Project is promote by individual promoters from various backgrounds, institutional investors primarily connected to the Sanima Hydro group, and other institutions like banks and insurance companies in the Taplejung district of Nepal. The Build, Own, Operate, and Transfer (BOOT) construction process is used for this project.

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