Synergy Power lists 70 lakh units shares in NEPSE; price range for first transaction between Rs 60 – Rs 180

Synergy Power Development Limited has listed 70,00,000 units ordinary shares in Nepal Stock Exchange Limited (NEPSE) today. The trading will start in NEPSE after 7 days of notice published, which means the trading of the shares will commence from Jestha 3, 2074. The first price range of Synergy Power will be between Rs 60 and Rs 180. Synergy Power Development Limited had issued 21,00,000 unit shares worth Rs 21 crore as part of its Initial Public Offering (IPO) for the general public from Poush 8, 2073 till Poush 13, 2073. The issue had collected Rs 6.81 arba and was oversubscribed by 35 times. Retail investors were allotted 3.04% and others were allotted 2.93% on pro-rata basis. Synergy Power Development Limited is developing 10MW Sipring Khola Hydropower Project in Dolakha district. It has posted Rs 6.45 crore net loss in the FY 2072/73.