Singati Hydro’s IPO open from today
Kathmandu, March 19
Singati Hydro Energy Pvt. Limited has issued an IPO to the public from Chaitra 6.
The company has issued a total of 2.9 million IPOs at a face value of Rs 100. In which, 2 percent i.e. 8,000 shares have been reserved for employees, while 5 percent i.e 145,000 units has been distributed to collective investment funds. The general public will be able to apply for the remaining 26,97000 lots.
A minimum of 10 lots and a maximum of 200,000 lots can be applied for IPO. Banks and financial institutions participating in the C-ASBA service and their branch offices can apply for this IPO by obtaining a certificate from the Nepal Securities Board. The issuance of this IPO will take place on Chaitra 10 at the earliest and on Chaitra 20 at the latest after banking hours. Currently, investors are very attracted to the primary market. About 1.5 million people have applied for the latest IPO of Jyoti Life Insurance Company.
In this regard, the IPO of Singati Hydro Energy also has more than 1.8 million applications. However, only 269,700 applicants for the company’s IPO will get shares at the rate of 10 lots. Therefore, it seems appropriate to invest only 10 lots which is Rs. 1000 in this IPO.
The Securities board of Nepal had given permission to Singati Hydro to issue a total of 4.35 million IPO lots for the project-affected and the public on Poush 21. The IPO is equivalent to 30 percent of the company’s paid-up capital. After the IPO sale, the company’s paid-up capital will reach Rs 1.45 billion. The issue and sale manager is Mega Capital Markets Limited