Swet-Ganga Hydropower and Construction Limited is going to open the IPO issue and sale from 2079 Jestha 23. The company is planning to issue an IPO for the residents of the project-affected areas.
The company is about to issue 1.593 million ordinary shares with a face value of Rs 100 per share, which is 10 percent of the issued capital of Rs 1.59 billion. Out of which 70 percent of the total shares to be issued to the residents of Likhu Tamakoshi Rural Municipality Ward No. 2, 3, and 4 of Ramechhap District and Ward No. 4, 5, 6, 7, 8, and 9 of Okhaldhunga District where the structure of the project is located. 100 thousand lots; For the residents of Likhu Tamakoshi Rural Municipality, Ward Nos. 5, 6, and 7 of Ramechhap District and Ward Nos. 11, 12, and 13 of Manthali Municipality and Ward Nos. 1 and 3 of Ramechhap Municipality Ward No. 1 of Likhu Tamakoshi Rural Municipality of the district and Ward No. 1, 2, and 3 lakh 5 percent of Likhu Rural Municipality of Okhaldhunga district i.e. 79,650 lots will be distributed.
The eviction will be stopped on the 6th of Ashad sooner and on the 21st of Ashad. Applications for the IPO can be submitted from Yasam branch of Nepal SBI Bank, the Manthali Branch of Shangrila Development Bank, and venues of the company. In addition, applications can be submitted from all C-ASWA member banks and financial institutions and their branch offices approved by the Nepal Securities Board.
The issue and sale manager of the company is Sanima Capital Limited. Investors will have to apply for a minimum of 10 lots of shares and a maximum of 10,000 lots.
Care Rating Nepal has given CareNP BB IS rating to the Swet-Ganga Hydropower and Construction Limited the rating given for the IPO issue. This indicates a moderate risk in the company's ability to bear responsibility.
