IPO of Universal Power Company for locals added to SEBON pipeline; to issue 21 lakh unit shares

Universal Power Company (UPCL)'s IPO for the project affected locals has been added to SEBON pipeline for approval. The company will be issuing 21,00,350 units worth Rs 21 crore. 

The company will be issuing a total 96,61,610 unit Initial Public Offering (IPO) shares worth Rs 96.61 crore. At first, it will be issuing 21 lakh unit IPO shares to the locals of Dolakha District and after that 75.61 lakh unit of IPO shares will be floated to the general public. The par value of the shares is Rs 100 per share.

Siddhartha Capital has been appointed as the issue manager.

Universal Power Company Ltd (UPCL) is a public company incorporated on 16 Chaitra, 2067 (March 30, 2011) as per Company Acts 2063, Nepal with the objective to develop and invest in hydropower projects. It is currently developing Tallo Khare Khola Hydropower Project which has installed capacity of 11 MW in Dolakha District and owns its generation license. The Project is located in Gauri Shankar Gaupalika-5,6,8. Its registered office is located at Kathmandu-11, Bluestar Complex, Tripureshwor.