Vision Lumbini Urja Company Issuing IPO Shares to Locals of Kaski District and Nepalese Employed Abroad from Today
Tue, Sep 5, 2023 8:56 AM on Latest, IPO/FPO News,
Vision Lumbini Urja Company Limited is opening the issue of an Initial Public Offering (IPO) to the project-affected locals of Kaski District and Nepalese citizens working abroad from today i.e. on the 19th Bhadra to the 2nd Ashwin, 2080.
Note that for the locals of Kaski District, if the issue is not subscribed by the early closing date, the issue can be extended till Ashwin 17. However, the issue will not be extended from the early closing date for Nepalese citizens working abroad.
The issued capital of the company is Rs. 1.91 Arba of which 10% i.e. 19,12,500 unit shares worth Rs. 19.12 Crores have been allocated to project-affected locals of Kaski District.
Meanwhile, 10% of the company's issued capital i.e. 19,12,500 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 191,250 units shares have been allocated for Nepalese citizens working abroad, the issue of which will open today.
For the project-affected locals, the minimum application quantity to be applied is 10 units while the maximum quantity is 380,000 units whereas for the Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units and the maximum quantity is 19,120 units.
Muktinath Capital Limited is appointed as the issue manager.
Vision Lumbini Urja Company Limited is developing a 25-MW Seti Nadi Hydroelectric Project in the Machhapuchchhre rural municipality of Kaski District, Gandaki Province of Nepal. The project is a run-of-the-river (R-o-R) type and is being developed at a 44.5% probability of exceedance.
