Kathmandu. Sanigad Hydro Company Limited is going to issue Initial Public Offering (IPO) to the general public. The company is going to issue its shares to the general public after allocating the IPO for the local residents of the project-affected areas and the Nepalese working abroad.

The company has been permitted to issue 8.55 million units of shares i.e. 30% of the issued capital of Rs 2.85 billion. In the first phase, the company has set aside 28,50,000 units of ordinary shares to the locals of the project-affected areas, 5,70,000 units to the employees of the company and 1,71,000 units to the employees of the company and 2,85,000 units to the mutual funds.

The company is issuing 46,74,000 units of shares worth Rs 46.74 crore at a price of Rs 100 per share to the general public from May 28.

Applications can be place for minimum 10 units and maximum 20,000 units. The last date to apply for the IPO is June 20. If the application is not received as per the demand within the stipulated period, the application can be submitted till June 11.

Applications can be submitted from banks and financial institutions that are ASBA members and my shares. Laxmi Sunrise Capital Limited has been appointed as the issue manager.