Kathmandu: The initial public offering (IPO) sale of Nyadi Hydropower Company Limited is now open. The company has opened the sale of shares to the locals and founder of the project-affected area Lamjung from today.

The IPO will remain open till as early as August 31 or as late as September 15. The company will issue a total of 1.8 million ordinary shares with a face value of Rs 100 per share. Out of this, the company will issue 500,000 shares for the locals affected by the project, 1 million shares for the district residents and the remaining 300,000 shares for the employees of its founding shareholders- Butwal Power Company and Lamjung Power Development Company.

The company has issued 500,000 shares for the locals of Marsyangdi Rural Municipality-3 (only wards 1, 2, 3 and 6 of the former Khudi VDC) and the entire Bahundanda VDC and the former Bhulbhule VDC of Marsyangdi-6, 7 and 8.

Applications for the IPO can be submitted from NMB Bank's Bensishahar branch, Civil Bank's Bhulbhule branch and Global IME Bank's Bensishahar, Udipur, Dordi, Bhorletar, Sunderbazar and Bhoteodar branch offices. Employees of the company's founding shareholders can apply from the company's office in Buddhanagar. The company's share issue and sales manager is Global IME Capital. In addition, interested locals can apply for a minimum of 10 units and a maximum of 50,000 units of shares.