Kathmandu. Shikhar Power Development Company has opened its IPO from today (March 30). The IPO issuance is open for general investors after the IPO issuance for the local residents of the project affected area and the Nepalese employed abroad.

In the second phase, the company will issue 44,400 units to the employees of the company and the remaining 18,42,600 units at face value of Rs 100 per share will be issued to the general public.

Earlier, the company was allowed to issue 32.65 percent of the issued capital i.e. 32 lakh units of shares worth Rs 32 crore. Out of the total shares, 9,80,000 units of ordinary shares were opened for the locals of the project affected area on the basis of the details of the Environmental Impact Assessment Report (EIA) and the power generation license.

Similarly, 2,22,000 units of ordinary shares have been allotted to Nepalese who have obtained labour permit from the concerned body of the government and 1,11,000 units are for mutual funds.

Applications can be place for minimum 10 units and maximum 1000 units. The closing date will be on March 12 and the latter will be on March 14.

Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can apply for the shares from all ASBA member banks and their designated branches through the Securities Board of Nepal (SEBON).