Joshi Hydropower to Auction Unsold Right Shares Through Sealed Bidding

Kathmandu, October 14 — Joshi Hydropower Development Company Limited has announced the auction of its unsold right shares through a sealed bidding process. The company is offering a total of 189,927 units of right shares that remained unsubscribed during the earlier issuance period, at a minimum price of NPR 100 per share.

The right share issue had been open for subscription from July 30 to September 4 (2081 BS: Shrawan 15 to Bhadra 19), but some shares remained unsold. These shares will now be auctioned to interested investors through a transparent bidding process.

Applicants can bid for a minimum of 100 units, and the maximum limit will be determined such that no more than 10 applicants completely exhaust the remaining shares — or bidders may apply for all available shares.

The sealed bids must be submitted between October 14 (Tuesday) and October 28 (Tuesday) by 3:00 PM. Bid forms will be available at the company’s issue manager, Laxmi Sunrise Capital Limited, located in Kamalpokhari, Kathmandu.

Additionally, bid forms can also be obtained from various branches of Laxmi Sunrise Bank, including Biratnagar (Hanuman Das Road), Birgunj (Adarshanagar), Hetauda, Pokhara (New Road), Butwal (Milan Chowk), Surkhet (Birendrachowk), and Dhangadhi (Laxmi Narayan Chowk).

The auction is open to promoters, general investors, institutions, and any interested individuals who wish to participate.