Shares of Suryakund Hydro listed on NEPSE: Open for trading from Sunday

Shares of Suryakunda Hydro Electric Limited have been listed on Nepal Stock Exchange (NEPSE) today. The company has registered a total of 68 lakh 96 thousand 744 shares with a face value of Rs 100 per share in NEPSE. Out of this, 13 lakh 79 thousand 350 shares are for general public and 55 lakh 17 thousand 394 shares are founder shares. The shares of this company, which is listed under the stock symbol 'SKHEL', will be open for trading from March 12th. Shares of founders, locals and employees will be locked in for three years, while collective investment fund shares will be locked in for six months. This lock-in period will be applicable from the date of allotment of the IPO to the general public.

NEPSE has set a minimum price of 94 rupees 77 paisa and a maximum price of 284 rupees 31 paisa for the first transaction of the company which distributed its IPO to the general public on February 5. The company issued 13 lakh 79 thousand 350 shares worth Rs 13 crore 79 lakh 35 thousand which is 20 percent of the issued capital of Rs 68 crore 96 lakh 74 thousand 400 to the general public. During the distribution of this IPO, 689 thousand 675 shares were distributed to project-affected locals, 68 thousand 967 shares to Nepalis working abroad, 13 thousand 793 shares to employees, 34 thousand 484 shares to collective investment fund and the remaining 5 lakh 72 thousand 431 shares to general public.

Suryakunda Hydro has completed the construction of 11 MW Upper Tadi Khola hydropower project in Nuwakot district. Commercial production started from this project on July 12th. The total cost of the project is 2 billion 36 crore 84 lakh 40 thousand rupees.