Shikhar Power Development To Issue 9,52,580 Shares In IPO | Appoints Global IME Capital As Issue Manager
December 6, 2022 | Investopaper
Shikhar Power Development 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. Hemraj Acharya, Managing Director of Shikhar Power Development and Parasmani Dhakal, 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.
In the first phase, the company will sell shares to the locals of the project affected areas. Likewise, in the second phase, the hydropower will float shares to the general public, including the employees of the company and the mutual fund schemes.
In total, the company plans to issue 9,52,580 shares in the public offering.
About Shikhar Power Development Limited
Shikhar Power Development was established on Bhadra 26, 2071 B.S. (September 11, 2015 A.D.) as a private limited company. Later it was converted into public company to issue shares to the public.
The company is currently developing a 4.96 MW Bhim Khola Small Hydropower Project in Baglung district. The project is a run of the river type project with an estimated cost of Rs. 87.40 crores.
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