Sanigad Hydro Extends IPO Deadline for Locals Until Baisakh 7

Kathmandu — Sanigad Hydro Limited has extended the application deadline for its Initial Public Offering (IPO) issued to project-affected local residents. Investors can now apply until Baisakh 7, 2083.The company has approval to issue 8.55 million shares, equivalent to 30% of its issued capital. In the first phase, 2.85 million shares have been allocated specifically for local residents of the project-affected areas. A larger portion of these shares is reserved for highly affected wards (1, 2, and 4) of Bungl Municipality in Bajhang, while the remaining shares will be distributed among residents of other wards.The IPO has a face value of Rs. 100 per share, with a minimum application of 10 shares and a maximum of 20,000 shares. ICRA Nepal has assigned the company an ‘ICRA NP Double B Minus’ rating, indicating a moderate level of risk.Sanigad Hydro is developing the 38.46 MW Upper Kalangagad Hydropower Project, with a total estimated cost of around Rs. 8.68 billion. The project still has more than 25 years of generation license remaining.The issue manager is Laxmi Sunrise Capital Limited. Eligible local residents can apply through designated bank branches in Bajhang and nearby areas, with an application form fee of Rs. 2.