KATHMANDU, Oct 1: Nyadi Hydropower Limited has opened the sale of ordinary shares to the public from today. The company has issued 225 million units of shares through its initial public offering (IPO) at a face value of Rs 100 per share, equivalent to Rs 225 million.
Out of the total ordinary shares issued by the company, five percent or 112,500 units have been distributed to the collective investment fund and two percent or 45,000 shares have been allotted for the employees. The general public will be able to apply for the purchase of the remaining 2,095,500 shares from Friday.
The general public will be able to apply for a minimum of 10 to a maximum of 50,000 units of the issued shares till October 5. If the application is not received as demanded by that period, the IPO offering will be open till October 17.
The company is currently constructing the 30MW Nyadi Hydropower Project in Marsyangdi Municipality of Lamjung. The total estimated cost of project construction is Rs 6.11 billion.