Synergy Power to issue 7 lakh unit IPO shares for the locals of Dolakha district from Shrawan 16

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    Synergy Power Development Limited will be issuing 7, 00,000 unit shares worth Rs 7 crore as part of its Initial Public Offering (IPO) for the locals of project affected people of Dolakha district (Gaurishankar, Khare, Lamabagar, Warang, Bulung and Laduk VDC project affected area).

    Publishing a notice today, it stated that the IPO applications would be open from Shrawan 16, 2073 and close on Shrawan 30, 2073. The maximum closing date for the offer is Bhadra 19, 2073.

    Interested people must apply for a minimum of 50 units of share and they can apply for up to 5,000 unit of share.

    Civil Capital Market Limited has been assigned as the issue manager for the IPO issue.

    The authorized capital of company is Rs 70 crore.  The paid up capital of the company remains at Rs 42 crore. After the IPO for the locals of project affected area, the paid up will reach Rs 49 crore.

    ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed Initial Public Offering (IPO) of Synergy Power Company.

    Synergy Power is developing 10MW Sipring Khola Hydropower Project at Dolakha district.

    After the IPO for the locals of project affected area, the company will be floating 21, 00,000 units shares worth Rs 21 crore as a part of IPO for the general public.

    Demat account is compulsory in case the collection centers are inside Kathmandu Valley.For outside the valley Demat account will be compulsory from Magh 1.

    Collection centers details:

    S.No Collection Center Name Contact Person Contact Number
    1. Sipring Khola Jalbidyut Kendra Jagat, Dolakha Jhawanath Bhattarai 9851278172
    2. Araniko Development Bank Limited, Sighati Branch office, Dolakha Manoj Gautam 010-410007
    Source : Share Sansar