Pure Energy Closing First Phase of IPO from Today
March 18, 2025 | Investopaper
Pure Energy Limited is currently issuing shares in the initial public offering (IPO).
In the first phase of the IPO, the company is floating shares to the locals of the project affected areas and foreign employed Nepalis from Falgun 20, 2081 BS.
The hydropower company is selling 1,60,000 shares to the locals of Banke district. Due to full-subscription of shares, the IPO to locals will close on Chaitra 5, 2081 BS.
Interested locals of Banke district can subscribe for a minimum of 10 shares and a maximum of 16,000 shares.
Similarly, the company is issuing 1,44,000 shares (10 percent of general public’s quota) to the foreign employed Nepalis from Falgun 20, 2081 BS. The IPO to foreign employed Nepalis will close on Chaitra 5, 2081 BS.
Interested foreign employed Nepalis can apply for a minimum of 10 shares and a maximum of 7,200 shares.
After the first phase, the company will sell shares to the general public, including the employees of the company and the mutual fund schemes, in the second phase of the IPO. In total (including the first and the second phase), the company will sell 16,00,000 shares that amounts to Rs. 16 crores in the public offering (IPO).
For this purpose, Securities Board Of Nepal (SEBON) has given the permission to the company on Falgun 2, 2081 BS. The company had submitted the application to the board on Magh 29, 2080 BS seeking permission to issue the shares to the general public. Only after receiving the approval from the regulatory body, the company can float the shares to the public.
The company has appointed Nabil Investment Banking Limited as the issue and sales manager for the IPO. An agreement has been reached between the company and Nabil Investment Banking on this regard.
As of Poush end 2081 BS, the company has a paid-up capital of Rs. 64 crores. After the IPO (if fully subscribed), the total capital will increase to Rs. 80 crores.
About Pure Energy Limited
Pure Energy Limited was established on June 19, 2018. The company is currently developing a 20 MW solar power project Banke district of Nepal. The solar project is being set up in 2 phases (Block-1 and Block-2) having installed capacity of 10 MW under each phase.
The estimated cost of the project is Rs. 224.86 crores which translates into per MW cost of Rs. 11.24 crores. The project is being funded in a debt-equity ratio of 67:33.
The company is mainly promoted by the individuals of Golyan group and Renergo Developers.
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