Makar Jitumaya Suri Hydropower Company Limited (MAKAR) has recently declared the conclusion of the lock-in period for shares held by Dolma Impact-1, in accordance with guidelines from the Securities Board of Nepal (SEBON). The lock-in period is set to end on 16th Jestha, 2081, allowing these shares to be traded freely.
MAKAR, listed on the Nepal Stock Exchange (NEPSE) with 7,600,000 units of shares, notes that Dolma Impact-1 currently holds 26,05,900 units of shares subject to the lock-in period. Following the specified date, these shares will become eligible for trading.
Typically, under Private Equity/Venture Capital (PE/VC) regulations, the lock-in period lasts for one year after share allocation, unlike the standard three-year period. However, in the case of MAKAR, this period follows the one-year rule after a director’s resignation, with the release of shares scheduled for the 16th of Jestha, 2081.
Dolma Impact Fund, established by the Dolma Foundation in 2003, aims to combat poverty through investments in education, health, and sustainable enterprises. Dolma Fund Management, founded in 2014, introduced Dolma Impact Fund I (Dolma I), focusing on sectors supporting Nepal’s Sustainable Development Goals (SDGs). Dolma I attracted investments totaling USD 36.6 million, with its successor, Dolma II, concluding at USD 71.96 million in 2022. Managing over USD 100 million, Dolma stands as Nepal’s largest private equity fund manager, committed to promoting SDGs and adhering to global Environmental, Social, and Governance (ESG) standards.