IPO of 21 lakh 350 shares of Universal Power Company has been opened. In the first phase, the company has launched an IPO for project-affected locals. Residents of Garishankar, Kalinchok and Vigu Rural Municipality of Dolakha district can apply till 29th of January.
Minimum 50 shares to maximum 5 lakh shares can be filled in this IPO. IPO can be filled from Charikot branches of Citizens Bank, NIC Asia, Siddharth and Krishi Bikas Bank and Mahalakshmi Bikas Bank. Similarly, applications can be made from Mude, Charikot and Singti branches of Indus Development Bank and Gourishankar branch of Himalayan Bank.
Universal is constructing an 11 MW Lower Khare Khola hydroelectric project in Dolakha district. Its estimated cost is 2 billion 46 million rupees. The remaining period of its power generation permit is 29 years. Universal's IPO has been given a 'Grade 4' rating by ICRA Nepal.
Its issued capital is 2 billion 10 million 350 thousand rupees. The company has projected a net profit of Rs 195.3 million in the coming financial year and Rs 21.98 million in FY 2077.78. The IPO will be open to the general public after the sale to the locals.