Singati Hydro issues 2.69 million IPOs

KATHMANDU: Singati Hydro Energy Limited has issued ordinary shares (IPO) to the public from Friday. The company has raised Rs. A total of 26.97 million IPOs with a face value of Rs 100 each have been issued.

Out of this, 145,000 shares have been issued for collective investment funds and 58,000 shares for the general public. The general investors will be able to apply for the remaining shares. The general public can apply for a minimum of 10 lots and a maximum of 200,000 lots. The last date to apply is March 25.

Earlier, the company had issued 1.45 million ordinary shares for the residents of the project-affected areas. Singati Hydro is developing a 25 MW hydro power project. The project is estimated to reach Rs. 220 million per MW.

Ganesh Karki is the executive director of the company headed by Batu Lamichhane. The operators are Dolma Lamini, Narendra Ballabh Pant, Debesh Prasai, Sudip Raj Prasai and Rajni Thapa.