Sanima Middle Tamor IPO is Closing from th of Magh for Nepalese employees working abroad | Project Affected Locals’ Deadline Extended Until Falgun 04
From today’s banking hours, or Magh 18, Sanima Middle Tamor Hydropower Limited will stop issuing its initial public offering (IPO) to Nepalese individuals working overseas. The company has extended the deadline for IPO issues for project-affected locals until 4th Falgun, 2079. The issue had started on Magh 4th, 2079.
The company’s issue capital is Rs. 3.33 Arba, of 10%, or 33,32,500 unit shares. Worth Rs. 10 crores distribute to residents of Taplejung District who will impact by the project. A later date will see the issuance of 49,98,750 unit shares, representing 15% of the company’s outstanding capital.
In this public offering, which closes today, 10% of the shares, or 499,875 units, have been designated for Nepalese nationals working overseas.
Applications should be submitted in amounts of at least 10 units and up to 20,000 units by both project-affected locals and Nepalese citizens working abroad.
The issue manager is Sanima Capital Ltd. For a total of 918,510 units, 13,174 applications have been received through Nepalese nationals working overseas, according to CDSC. Thus, there has already been an oversubscription of 1.83 times for the issue.
The long-term bank facilities of Sanima Middle Tamor Hydropower Limited continue to have the “CARE-NP BB” rating from CARE Ratings Nepal Limited (CRNL).
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