IPO of Panchthar Power Company approved by SEBON; Company to issue 19.25 lakh unit shares

The initial public offering (IPO) of Panchthar Power Company Limited has been added in SEBON pipeline for approval. The hydropower company is seeking approval to issue 19,25,000 unit shares.

The hydropower company will be issuing the shares for both the locals of Panchthar district as well for the general public.

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

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.

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

The company currently has the paid up capital of Rs 76 crore and after the issuance of IPO will reach Rs 96 crore.