Securities Exchange Board of Nepal (SEBON) has added proposed IPO issue of NRN Infrastructure and Development Limited under preliminary review in the latest list of IPO issues in pipeline published.
The company is proposing to come out with an IPO of 3,398,046 equity shares with a face value NPR 100 each, at par for the general public. The amount of the issue is Rs.33.98 Crore.
Sanima Capital Limited has been appointed as the issue manager for the proposed IPO issuance.
NRN Infrastructure and Development Limited has been registered in Kathmandu under the Company Act 2063, in Nepal (September, 2012) with a main motive of collective investment at hydropower sector in initial phase and to explore other investment avenues of national priorities too in future.
NRN Infrastructure and Development Limited was incorporated as a public limited company on September 2012 by a group of Non-Resident Nepali (NRN) under the companies Act 2006 and also in accordance with the provision of the “Act relating to Non-Resident Nepali 2064”. During the year, the name of the company is changed to NRN Infrastructure and Development Limited as approved by the office of company registrar on 2.2.2017.
The registered office of the company is located in Kathmandu, Nepal. The objective of the company is to make investment in the development sectors like hydro power thereby contributing to the national development of Nepal.