Panchthar Power To Float IPO Of 9.63 lakh Shares To Locals
January 14, 2019 | Investopaper
Panchthar Power Company Limited has issued an IPO worth Rs. 9.625 crores for the locals of Bharpa, Yangnam and Nangin rural municipality (now Fidim, Hilifang and Falelung Municipality) from today. The issue will be closed on 14th of Magh 2075.
Related: How to apply IPO/FPO/Right Share through Mero Share?
Only the locals can apply in the first phase of IPO issue. The application can be placed for minimum 10 units and maximum 9620 units.
The form can be collected and submitted at Agriculture Development Bank Limited, Century Commercial Bank Limited and Goodwill Finance Limited located at Phidim Pancthar. Similarly, the form can also be submitted to the corporate office of Panchthar Power Company located at Yangnam, Pancthar.
Sanima Capital has been appointed as the issue manager for IPO issuance.
After the IPO issuance to local, the company will also issue 9.625 lakh units shares to the general public.
Care Rating Nepal Ltd had assigned grading of CARE-NP IPO Grade 4 to the Initial Public Offer (IPO) of the company indicating below average fundamentals. The cost of the project has been estimated to be around 2.61 arba with per megawatt cost estimated to be at around 17.45 crore.
