First Business News Portal in English from Nepal
KATHMANDU: Peoples Power Limited (PEPL) has published an offer letter to issue its Initial Public Offering (IPO) to the general public.
The company will be issuing 24,67,400 unit shares of Rs 100 face value from 31st Shrawan, 2079. The company intends to collect Rs 24.67 crore from this IPO. The early closing date of this issue is on 5th Bhadra and if the issue is not fully subscribed then it can be extended up to Bhadra 14, 2079.
Out of the total 24,67,400 units; 2% of the total offered shares i.e. 49,348 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 123,370 units have been set aside for the mutual funds. The remaining 22,94,682 units are for the general public. The paid up capital of the company will reach to Rs. 63.26 Crores after the IPO issuance.
Prabhu Capital has been appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 50,000 units.
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