Super Madi Hydropower Ltd | IPO Closing from today | Deadline Extending for Project Affected Locals Until Poush 20. From today’s banking hours, or Poush 5, Super Madi Hydropower Limited will stop issuing its initial public offering (IPO) to Nepalese people living and working overseas. The company has extended the deadline for locals impacted by the project until Poush 20, 2079. The problem started on Mangsir 20, 2079.
The firm has a 2.10 Arba issued capital, of which 10%, or 10,50,000 unit shares, are being distributed to project-affected residents of Kaski District (Madi VDC) and Pokhara Metropolitan residents. A later date will see the issuance of 21,00,000 unit shares, representing 10% of the company’s outstanding capital. 10% of the shares, or 2,10,000 units, have been set aside for Nepalese nationals who are working overseas. Both project-affected locals and Nepalese nationals working abroad should submit applications in quantities of at least 10 units and up to 50,000 units. Sanima Capital Ltd is the issue manager of this IPO.
For a total of 773,770 units, 7,707 applications have been received through Nepalese nationals working overseas, according to CDSC. As a result, the problem has received a 3.68 times larger response than expected. Super Madi Hydropower Limited has been given an Issuer rating of [ICRANP-IR] BB by ICRA Nepal (pronounced ICRA NP issuer rating double B). The prompt servicing of financial obligations is thought to pose a modest risk of default for issuers with this grade.
About the Company
The Super Madi Hydroelectric Project is situated in the Gandaki Zone of Nepal’s Western Development Region, in the Kaski Districts. The Namarjun and Parche Village Development Committees in the Kaski District are where the project is located. The powerhouse is close to Sodha village, while the headworks are at the base of Sikles village. 23 kilometers northeast of Pokhara is where the project is located. There is now a 16 km long earthen road leading from Pokhara City to the project. The Headrace Tunnel exit, which is located in the Namarjun Village Development Committee on the left side of the Madi River, has already been reached by an earthen road track.
The project-affected residents of Kaski Districts and Pokhara Metropolitan (Ward no. 26,27,28) have till the 20th of Poush 2079 to purchase the 3,15,000 units of its first public offering (IPO) shares.
Download the Notice of Deadline Extending for Project Affected Locals Until Poush 20: –
(Image Source:- Sharesansar)
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