Synergy Power to float 21 lakh kitta IPO shares from Poush 8; Applicants can apply up to 21,000 Kitta shares

Synergy Power Development Limited will be issuing 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 at face value of Rs 100. The IPO applications will close on Poush 12, 2073. The maximum closing date for the offer is Poush 22, 2073. Interested people must apply for a minimum of 50 units of share and they can apply for up to 21,000 units of share. Sanima Capital Limited has been assigned as the issue manager for the IPO issue. The hydropower company has set aside 3% or 63,000 unit shares for its employees and 5% or 105,000 unit shares for the 10 mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1, Global IME samriddhi Fund-1, Nabil Equity Fund , NMB Hybrid Fund L-1 and NIBL Pragati Fund. The company has set aside 19, 32, 000 unit share to the general public. After the IPO, the paid up capital will reach Rs 70 crore from the currentcapital which includes 42 crore promoter and 7 crore collected from the project-affected area. The hydropower has authorized capital of Rs 70 crore. After the IPO, the promoter-people of affected area (Dolakha District) - public ratio of the company will be 60% to 10% to 30%. Synergy Power is developing 10MW Sipring Khola Hydropower Project at Dolakha district. Synergy Power Development Limited had floated 7, 00,000 unit shares worth Rs 7 crore as part of its IPO shares for the locals of project affected people of Dolakha district (Gaurishankar, Khare, Lamabagar, Warang, Bulung and Laduk VDC project affected area). ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed Initial Public Offering (IPO) of Synergy Power Company. Collection centers details: