Shiva Shree Hydropower to issue IPO worth 33.51 crores

October 3, 2019 | Investopaper

In a period of general disinterest towards hydropower stocks, yet another Hydropower Company is issuing shares to the public from today.

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Shiva Shree Hydropower will issue IPO to the public opening from Ashwin 16, 2076. The issue will remain open until Ashwin 24, 2076 in the earliest. If under-subscribed it will extend to Karthik 15, 2076.

The hydropower company is planning to issue 33,51,140 units of share in the IPO. This includes 11,36,540 units unsold shares issued to the local people. The IPO amounts to Rs. 33.51 crores.

Out of the total 33.51 lakh units, 3 percent or 100,534 units share are reserved for the employees. Likewise, 5 percent or 167,557 is allocated for the mutual funds. The general public will apply for the remaining 30,83,049 shares.

Related: Upcoming Initial Public Offerings (IPO) In Nepal

Shiva Shree Hydropower Limited received approval from Securities Board of Nepal (SEBON) for the issuance of the IPO on Ashwin 1, 2076.

After the IPO, the general public will possess 22.69 percent shares in the company.

Siddhartha Capital Limited is the issue manager of the IPO.

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