The sale of ordinary shares in Samling Power Company Limited will begin on October 21 and will be open to the general public. In an initial public offering (IPO), the company plans to sell 730,000 shares with a face value of Rs 73 million, with the proceeds going to charity.
Five percent, or 36,500 units of shares, of the ordinary shares to be issued will be distributed to the collective investment fund, and two percent, or 14,600 units of shares, would be reserved for the benefit of the employees. The general public will be able to submit applications for the purchase of the remaining 678,900 units of stock beginning on October 21.
Applicants for a minimum of 10 lots and a maximum of 20,000 lots must submit their applications by October 25. If the company does not receive all of the required applications by that date, it will remain open until November 4, according to the company’s announcement.
The business is now working on the construction of the Maibeni Hydropower Project, which will generate 9.51 megawatts of electricity on the Mai Khola in Illam. According to the firm, the entire projected cost of the project is Rs 2 billion, with a cost per megawatt of Rs 210.3 million. The company estimates that the whole estimated cost of the project is Rs 2 billion.