Sanigad Hydro Opens General Public IPO: General Public Subscription Starts May 28 via C-ASBA

Sanigad Hydro Limited is set to open its Initial Public Offering (IPO) for the general public from May 28 (Jestha 14). After successfully allotting shares to project-affected locals, migrant Nepalese workers, company employees, and mutual funds in the first phase, the company is now offering the remaining 4,674,000 units of shares at a face value of Rs 100 per share. Investors can apply for a minimum of 10 units and a maximum of 20,000 units through the C-ASBA system. The issue will close on June 3 (Jestha 20) at the earliest and June 11 (Jestha 28) at the latest. Laxmi Sunrise Capital Limited has been appointed as the issue manager for the IPO of the 38.46 MW Upper Kalangagad Hydropower Project, which holds an ICRA Nepal rating of ICRA-NP IR BB-, indicating moderate risk.