Kathmandu. Today is the last day for Nepali migrant workers to apply for the initial public offering (IPO) of Sanigad Hydropower Company.

Nepalis who are in foreign employment from March 8 can apply till today’s office hours.

The company has been allowed to issue 85.50 lakh units of shares worth Rs 85.50 crore, which is 30% of the issued capital of Rs 2.85 billion.

The company has issued 5,70,000 units of ordinary shares worth Rs 5.7 crore to the general investors after obtaining labour permit.

Applications can be place for minimum 10 units and maximum 20,000 units. ICRA Nepal has assigned ICRNP Issue Rating of Double B Minus to the IPO. This indicates that there is moderate risk to the company’s ability to meet its obligations.

Laxmi Sunrise Capital has been appointed as the issue manager for the IPO issuance. Nepalese who are in foreign employment can apply through the banks and financial institutions that have taken the C ASBA service from the Securities Board of Nepal and My Shares.