Kathmandu. Super Khudi Hydropower Company is issuing IPO from today (January 5). The company is going to issue IPO for the local residents of the project-affected area and the Nepalese employed abroad.

The company was allowed to issue 20 percent of the issued capital of Rs 1.55 billion i.e. 3.1 million units of shares. Out of the offered, 15,50,000 units of ordinary shares worth Rs 15.5 crore each will be issued to the locals of the project-affected area.

Out of the total shares, the company has issued 40 percent i.e. 620,000 units of ordinary shares to the project-affected area of Marsyangdi Rural Municipality of Lamjung district. The remaining 60 percent i.e. 930,000 units of ordinary shares will be distributed to the residents of Ward No. 2 and 3 of the rural municipality. It will be distributed among the local residents of wards 1, 4, 5, 6, 7, 8 and 9.

Likewise, the company is issuing 1,55,000 units of ordinary shares at a face value of Rs 100 per share i.e. 10% of the total amount of shares allotted to the general public.

Applications can be place for minimum 10 units and maximum 1,000,000 units. For the locals of the project-affected areas, the issue will be closed on January 6 at the earliest and it will be on Magh 21 at the earliest.

Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. The local people can bid for the shares from Prabhu Bank, Global IME Bank, Agricultural Development Bank, Prime Commercial Bank and Himalayan Bank’s Bhulbhule branch.

Locals of the project-affected areas have to pay Rs 2 as application fee for the purchase of shares. Nepalese who are on foreign employment can apply for the ASBA system from the banks and financial institutions participating in the ASBA service after obtaining permission from the Securities Board of Nepal.