Applications for 52 thousand units received for Pachthar Power Company's IPO; 4 more days and 9.1 lakh units to go

Panchthar Power Company Limited is issuing 9,62,500 units as Initial Public Offering for the locals of Panchthar district till Magh 14, 2075.

Sanima Capital has been appointed as the issue manager for the IPO issuance.

According to the officials at Sanima Capital, the collection till date is Rs 52 lakh. The issue has been subscribed by 5.4% and 94.6% remains for the next 4 days.

The locals of Bharpa, Yangnam and Nangin rural municipality and currently Fidim Municipality, Hilifang and Falelung Municipality will be able to apply in the issuance.

Applications can be placed for minimum 10 units and maximum 9,620 units. The application forms can be collected and deposited in the branches of the following branches:

1. Agriculture Development Bank Limited, Phidim, Pachthar
2. Century Bank Limited, Phidim, Pachthar
3. Goodwill Finance Limited, Phidim, Pachthar and
4. The corporate office of Pachthar Power Company, Yangnam, Pachthar

After the issuance of IPO for the locals, the hydropower company will be issuing 9,62,500 units for the general public which will raise its paid-up capital to Rs 96.25 crore.

Care Rating Nepal Ltd had assigned grading of CARE-NP IPO Grade 4 to the Initial Public Offer (IPO) of Panchthar Power Company Limited (PPC). ‘CARE-NP IPO Grade 4’ indicating Below Average Fundamentals.

The per megawatt cost of the project has been estimated to be Rs 17.45 crore and the total cost of the project has been estimated to be Rs 2.61 arba.

The company has already started the production of electricity through 14.9 MW Hewakhola A project. Hewa Khola Project is based in Panchthar district with a motive to generate electricity to fulfill the need of Taplejung, Panchthar, Ilam and Jhapa district.