Samling Power Company Limited is going to issue IPO for the residents of the project affected areas. The company is going to issue IPO from Shrawan 22 (साउन २२). This time IPO is only going to open for the local peoples affected by hydropower project. For the other investors across the Nepal can apply for IPO later. It will going to open next time.
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Samling Power Company is about to issue IPO shares with a face value of Rs 100 per share. The company is going to issue 500,000 ordinary shares for the residents of Ilam district affected by the project.
The IPO will be open for locals from Shrawan 22 (साउन २२) . The IPO will close on Bhadra 4 (भदौ ४). If all IPOs are not sold by Bhadra 4, they will remain open until Bhadra 20 (भदौ २०).
Where to apply for IPO?
Affected Local investors of Ilam can apply for this IPO from branch offices of Nepal SBI Bank, NMB Bank, Siddhartha Bank, Civil Bank and Laxmi Bank.
The company has appointed Nepal SBI Merchant Banking Limited as the share issue and sale manager. Investors will have to apply for a minimum of 10 kitta and a maximum of 20,000 kitta.
ICRA Nepal has given ICRA NP Issuer rating double B minus rating to the company for IPO. This indicates a moderate risk in the company’s ability to bear responsibility.