Panchthar Power Company Limited (PPCL) has opened the sale of ordinary shares (IPO) from today (May 30). The company has issued an IPO worth Rs 962 lakh 50 thousand. Residents of the then boroughs Bharpa, Yangnam, Nangin (currently Fidim municipality, Hilihang and Falelsong rural municipality) affected by the share project currently issued by the company will be able to apply.
The deadline for applying for the IPO is 14th January. If the issued IPO is not sold at that time, the late date for closing the IPO issue has been fixed on January 29.
Care Ratings Nepal Limited has given 'Care NP IPO Grade 4' to the IPO that the company is about to issue. This grade indicates that the company's fundamentals are above average but fundamental.
Sanima Capital has been appointed as the IPO issue and sales manager of the company. In the IPO, local residents can demand a minimum of 10 shares i.e. one thousand rupees to 9,620 shares i.e. 9 lakh 62 thousand rupees.
In this IPO, it is arranged to understand the application from four sources. Locals will be able to obtain and submit the IPO application form from Panchthar Power Company's Hewakhola A Javidyut project office Phidim Municipality 10 Yangnam, Agricultural Development Bank, Century Commercial Bank and Goodwill Finance branch office Phidim Panchthar.
On January 13, the company received permission from the Securities Board to sell 19,25,000 IPO shares worth a total of Rs.
In the first phase, the company is going to issue 962,500 shares to the local residents of the project-affected Panchthar district from January 30th. After the distribution of this IPO, in the second phase, the same amount of IPO will be issued to the general public.
The company has already paid 80 percent of the issued capital from the founders, i.e. 77 million rupees, while 20 percent of the issued capital will be maintained through public issue.
Panchthar Power Company is operating the 14.9 MW Hewakhola A hydroelectric project in Panchthar district. The company has been producing electricity from this project since 22nd January 2073.