Sanima Middle Tamor hydropower receives application from 66100 applicants; issue still ongoing for 2 more days

Sanima Middle Tamor Hydropower has received applications from 66100 applicants for 79,23,100-unit shares till 11 AM of Falgun 28.

The company has opened the issue of 42,48,938 unit shares of Rs 100 face value from 26th Falgun, 2079. The company intends to collect Rs 42.48 crore from this IPO. The early closing date of this issue is on 30th Falgun and if the issue is not fully subscribed, it can be extended up to 10th Chaitra, 2079.

Out of the total 49,98,750 units; 10% i.e. 499,875 units have already been issued and allotted to Nepalese citizens working abroad, whereas 5% of the total offered shares i.e. 249,937 units have been set aside for the mutual funds. The remaining 42,48,938 units are for the general public. The company's paid-up capital will reach Rs. 3.33 Arba after the IPO issuance.

Earlier, the company had issued 33,32,500 unit shares worth Rs. 33.32 crores to the project-affected locals and 4,99,875 unit shares to Nepalese citizens working abroad. Overall, 70% of shares are of the promoter shareholders in the company.