Kathmandu. Yambaling Hydropower Company Limited (YMC) is issuing the initial public offering (IPO) from today.

The company has issued the IPO for the local residents of the project-affected area and the Nepalese working abroad.

The company has been allowed to issue 40% of the issued capital i.e. 28 lakh units of shares worth Rs 28 crore.

The company has issued 700,000 units of ordinary shares at Rs 100 per share to the locals of the project-affected area.

Local residents of Jugal Rural Municipality-1, 2, 3, 4, 5, 6 and 7 of Sindhupalchowk district can apply for the IPO.

In addition to this, 10% of the total amount of shares allotted to the general public can apply for 2,10,000 units of shares at the rate of Rs 100 per share.

Interested bidders can apply for 10 units and maximum 7,000 units. Applications can be place for 10 to 21,000 units of shares. Locals of the project-affected areas can apply till April 22. If the application is not received as per the demand within the said period, the application can be made till April 20, 2083.

Nepalis who are in foreign employment can apply till March 24. If the application is not received as per the demand within the stipulated period, the applicant can apply till April 22.

Muktinath Capital has been appointed as the issue manager for the IPO issuance.

The local people can collect the application forms from Sindhu Bikas Bank and Kumari Bank’s Jugal Rural Municipality branch and Chautara branch of Sindhu Bikas Bank. Similarly, the local residents can also apply through the ASBA system on an optional basis.

Nepalese who are in foreign employment can apply for the shares through the banks and financial institutions that have taken the services of ‘C Ashwa’ from the Securities Board of Nepal and Mero Shares.