Upper Solu Hydro’s IPO time has been extended, applications can be submitted till June 3

Kathmandu, May 19

Upper Solu Hydro’s IPO application deadline has been extended. The company’s initial public offering, which has been open for locals affected by the project since May 5, has been extended until June 3.

In the project-affected area of Solukhumbu district, the business has distributed 1.35 million shares to residents of Taksendu, Beni, Tamakhani, Salleri, Garma, Kerung, Gorakhani, Tapting, and Tingla VDCs of Solu Dudhkund Municipality of Savik.

For a total IPO of Rs 100 per lot, locals would be allowed to apply for a minimum of 10 lots and a maximum of 100,000 lots.

If all of the shares issued to project-affected persons are not sold, the remaining shares will be distributed to the general public, according to the firm.

Rating agency ICR Nepal gave the firm a double B + rating. This indicates that the company’s capacity to bear responsibilities is at average risk. NMB Capital is the company’s IPO sales manager.