Today, Magh 9, marks the last day for Nepalese citizens working abroad to apply for the Initial Public Offering (IPO) of Shikhar Power Development Limited. The company had opened this first phase of its share issuance on Magh 6, specifically for Nepalese workers who have obtained labor permits and are currently employed in foreign countries.
IPO Details for Migrant Workers
In this initial phase, the company has allocated 222,000 units of shares for the foreign employment category. Eligible applicants must submit their applications by the end of banking hours today. This special quota is part of the regulatory requirement to include Nepalese working abroad in the country’s capital market.
Application Limits
Investors in this group can apply for a minimum of 10 units of shares. The maximum application limit has been set at 10,000 units per person.
Next Steps and Issue Management
Following the completion of this quota for workers abroad, Shikhar Power Development will open its share issuance for the general public. Global IME Capital Limited has been appointed as the issue and sales manager to handle the entire IPO process.
Total Offering and SEBON Approval
The Securities Board of Nepal (SEBON) granted the company permission for the IPO on Poush 16. Based on this approval, the company is preparing to issue a total of 32 lakh units of shares, which is worth 32 Crore rupees.
Disclaimer: This news is originally written in Nepali, translated with the help of AI and editorially reviewed.