Eastern Sahara Company Limited, which is currently in the IPO pipeline of the Securities Board of Nepal (SEBON), has successfully concluded its Special General Meeting (SGM), approving a proposal to increase the company's capital.
Following the approval, the company’s total capital will rise to Rs. 2.20 billion. Of the total capital, Rs. 1.76 billion will be held as promoter shares, while the remaining Rs. 440 million will be issued to the public through an Initial Public Offering (IPO).
The company has stated that it is preparing to launch its IPO to the general public by Poush 2083 and is actively working to complete all regulatory procedures required for approval at the earliest possible time.
Addressing the meeting, Chairman Mahendra Kumar Giri said that the company's primary objective is to consolidate scattered capital and channel it into the national economy and sustainable development projects. He highlighted the company's focus on green investment, environmental protection, and sustainable economic growth.
According to the company, its investment portfolio spans multiple sectors, including hydropower, solar energy, agriculture, tourism, information technology, and mineral exploration. The company aims to deliver strong returns to shareholders while contributing to employment generation, technology transfer, and environmental sustainability.
Chairman Giri further stated that the planned IPO will transform the company into a publicly owned institution, enhancing transparency, accountability, and corporate governance.
The meeting began with a welcome address by Director Kalpana Bishwakarma, while Managing Director Krishna Ranabhat briefed shareholders on the rationale behind the capital increase and the company's ongoing activities. Directors Gopal Bhattarai and Pawanlal Rajbanshi were also present at the event, which was conducted by shareholder representative Ekaraj Giri.
Eastern Sahara Company has its head office in Birtamod, Jhapa, and a contact office in Baneshwor Heights, Kathmandu. The company had previously completed its third Annual General Meeting on Poush 27, 2082.
Key Details
| Particulars | Details |
|---|---|
| Company | Eastern Sahara Company Limited |
| Event | Special General Meeting (SGM) |
| Decision | Approval of Capital Increase |
| Total Capital After Increase | Rs. 2.20 Billion |
| Promoter Capital | Rs. 1.76 Billion |
| Planned IPO Size | Rs. 440 Million |
| Planned IPO Timeline | By Poush 2083 |
| Chairman | Mahendra Kumar Giri |
| Key Investment Sectors | Hydropower, Solar Energy, Agriculture, Tourism, IT, Mineral Exploration |
| Head Office | Birtamod, Jhapa |
| Contact Office | Baneshwor Heights, Kathmandu |
| Objective | Green Investment and Sustainable Development Projects |
The capital expansion marks a significant step for Eastern Sahara Company as it moves closer to becoming a publicly listed company and broadening public participation in its future growth plans.
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