Sahas Urja issues IPO worth Rs 10.5 mln for locals
SOLUKHUMBU: Sahas Urja Private Ltd., has issued an IPO worth Rs 10.5 million for locals of the project-hit area.
A fifth general meeting held on Monday a took a decision to this effect. This is 10 percent of the total of IPO issued by the company. The company has issued a total of IPO worth Rs 2 billion. The paid up capital of the company will be Rs 3.5 billion following the IPO issuance.
The Sahas Urja Private Ltd with 86-megawatt in capacity has around 8,000 shareholders from 69 districts, said Him Pathak, chairman of executive committee of the company.
An estimated cost of production of electricity per megawatt will reach Rs 137.9 million.
While 25 percent of the construction has been completed now, the company has planned to complete the construction by 2020.