Company received permission to issue 9.5 lakh shares; initial offering reserved for locals and foreign-employed Nepalis.
Jhapa Energy Limited is set to issue its initial public offering (IPO) starting from Saun 14. The company received approval from the Nepal Securities Board on Asar 31 to issue 9,50,475 shares at a face value of NPR 100 each.
In the first phase, the IPO will be open to local residents affected by the project and Nepalis working abroad. Out of the total shares, 3,80,190 units are allocated for the affected locals, while 57,029 units are reserved for Nepalis in foreign employment.
Applicants can apply for a minimum of 10 shares and up to a maximum of 5,000 shares. The application period for local residents is from Saun 14 to Saun 28, with a possible extension until Bhadra 12 if necessary. Foreign-employed Nepalis can apply between Saun 14 and Saun 18, with a potential extension to Saun 28 if the application quota is not met.
Application forms will be available at local branch offices and within the project area. Foreign-employed individuals can apply through the Mero Share app or the C-ASBA service.
The company has been assigned an “ICRANP-IR B Minus” rating by ICRA Nepal, indicating a high risk in meeting financial obligations on time. After the first phase allocation, the IPO will open to the general public in the second phase.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
