Mahendranagar: Sahas Urja Ltd.(SUL) has issued an initial public offering (IPO) to the public from Wednesday (September 22). The company has issued 7 million shares worth Rs 700 million.
Out of the total shares issued to the public, 3% or 210,000 shares for employees and 5% or 350,000 shares for the mutual fund are reserved. The public can apply for the remaining 92% or 644,000 shares.
The people can apply for the shares issued till September 26. If the application is not received as per the demand within that period, the deadline will be extended till October 06.
Investors interested in the company’s IPO can apply for a minimum of 10 shares and a maximum of 1 million 50 thousand shares.
People can apply for the company’s IPO from all C-ASBA member banks and financial institutions approved by the Nepal Securities Board, designated branch offices, and Mero Share mobile.
ICRA Nepal has given ICRANP-IR BB+ rating to the IPO issued by the company. This indicates that there is a moderate risk in meeting financial obligations on time.
At present, the company’s paid-up capital is Rs 2.45 Billion. After the IPO is issued, the company’s paid-up capital will reach Rs 3.5 Billion.
The issue and sale of the company’s shares are being done by NIBL S Capital Limited and the guarantor is a Citizen Investment Trust.