Kathmandu. Suryakund Hydro Electric Limited is going to issue initial public offering (IPO). The company is going to issue the IPO to the general public from 18th.

The company has been permitted to issue 13,79,350 units of shares worth Rs 13,79,35,000 i.e. 20% of the issued capital of Rs 68,96,74,400. Out of this, 6,89,675 units of ordinary shares have been issued to the locals of the project-affected area. Similarly, the company has already issued 68,967 units of ordinary shares to the Nepali migrant workers.

The company has allotted 13,793 units to its employees and 34,484 units to mutual funds.

The company is issuing 5,72,431 units of shares at a face value of Rs 5,72,43,100 at Rs 100 per share. Applications can be place for minimum 10 units and maximum 50,000 units. The deadline to apply is February 21. If the application is not received within the stipulated period, the application can be submitted till February 13.

Care Ratings Nepal has assigned CareNP Double B Minus Issue Rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.

Kumari Capital has been appointed as the issue manager. The interested investors can apply for the shares from the Securities Board of Nepal (SEBON) and through the banks and financial institutions that are members of the company.