Sagarmatha Jalbidhyut Company Re-Extends Deadline for 11,20,000 Units IPO Shares To The Locals of Illam District

Sagarmatha Jalbidhyut Company Limited has re-extended the issue IPO issue deadline for project-affected locals till 5th Falgun, 2079. The issue had opened on 5th Magh, 2079.

The issued capital of the company is Rs. 1.12 Arba of which 10% i.e. 11,20,000 unit shares worth Rs. 11.20 crores have been reserved to project-affected locals of Illam District. Meanwhile, 39% of the company's issued capital i.e. 43,68,000 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 436,800 units shares were allocated for Nepalese citizens working abroad, the issue of which closed on 19th Magh.

For the project-affected locals, the minimum application quantity is 10 units while the maximum quantity is 10,000 units.

Prabhu Capital Limited is appointed as the issue manager.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BBB- (pronounced ICRA NP issuer rating triple B minus) to Sagarmatha Jalabidhyut Company Limited. Issuers with this rating are considered to have a moderate degree of safety regarding the timely servicing of financial obligations.

Sagarmatha Jalbidhyut Company Ltd was established in November 2015 in Kathmandu, Nepal under the Company Act 2053 of the government of Nepal. The company was established primarily to curb the ever-increasing energy demand at that time and eliminate load shedding prevalent due to the imbalance in demand and supply of energy. The company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of over 18 MW. The company is expected to serve the power needs of more than 1000 households in collaboration with NEA.

Locals IPO Extended Notice

IPO Re-Extended Notice