Nepal Solar Farm to Issue 12 Lakh Shares in IPO | Appoints Global IME Capital as Issue Manager
May 21, 2024 | Investopaper
Nepal Solar Farm Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has appointed Global IME Capital Limited as the issue and sales manager.
The agreement for public offering was signed between the company and Global IME Capital Limited on this regard. Mr. Jitendra Bhattarai, Director of Nepal Solar Farm Limited and Mandeep Luitel, CEO of Global IME Capital inked the agreement.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON). If approved by SEBON, the hydropower can issue the shares to the public.
The company plans to sell 12 lakh unit shares at a par value of Rs. 100 in the public offering. Hence, the public issue amounts to Rs. 12 crores.
In the first phase, the company will sell shares to the locals of the project affected areas and foreign employed Nepalis. Likewise, in the second phase, the company will float shares to the general public, including the employees of the company and the mutual fund schemes.
About Nepal Solar Farm Limited
Nepal Solar Farm, a solar power generating company, is currently operating a 4 MW solar power project in Rupakot Rural Municipality of Kaski District.
At current, Nepal Solar Farm Limited has an authorized capital of Rs. 30 crore, the issued capital of Rs. 25 crore, and the paid-up capital is Rs. 13 crores.
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