Kathmandu. Shikhar Power Development Company has extended the deadline to apply for the shares issued to the locals of the project-affected areas after the applications were not received as per the demand.

Locals can apply for the IPO till February 22. The company was allowed to issue 32.65 percent of the issued capital of Rs 98 crore i.e. 32 lakh units of shares worth Rs 32 crore.

Out of this, 10% i.e. 9.80 lakh units of shares worth Rs 9.80 crore have been issued to the locals of the project-affected areas. Locals of Badigad Rural Municipality-1 to 10 of Baglung district and Dhorpatan Municipality-2 affected by the project can apply for the same.

Applications can be place for minimum 10 units and maximum 10,000 units. Global IME Capital has been appointed as the issue manager. The interested bidders can bid for the shares from Global IME Bank at Burtibang and Baglung branch, Garima Bikas Bank at Burtiwang branch, Prabhu Bank at Badigad and Shine Resunga Development Bank.