People’s Power Limited is going to issue an IPO on July 25. The company is about to issue an IPO for the residents of the project-affected areas. The company is going to issue 632,600 shares with a face value of Rs 100 per share, which is 10 percent of its issued capital of Rs 632.6 million. In Ilam District Ilam Municipality Ward no. 1 lakh 89 thousand 780 shares will be distributed for the residents of 1 and 4 most affected areas and 4 lakh 42 thousand 820 shares will be distributed for the residents of Ilam district.
Investors will have to apply for a minimum of 10 lots of shares and a maximum of 50,000 lots of shares. The expulsion will be closed on July 7 and if the application is not received by then, the deadline to apply will be extended to July 15. In the rating given for IPO issuance, Care Rating Nepal has given Care NP Double B Issuer rating to the company. This indicates an average risk in the ability to bear liability.
The issue and sale manager of the company is Prabhu Capital Limited. Investors can apply from Nepal, Bangladesh Bank’s Fikal Branch, Prabhu Bank’s Sandukpur and Ilam Branch, Global IME Bank’s Fikal and Ilam Branch, Prime Commercial Bank’s Ranke, Mangalbare, Vitaule, Tin Ghare, and Ilam Branch Offices. In addition, banks and financial institutions participating in the ASWAH service can apply for permission from the Nepal Securities Board.
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