IPO Proposal of Pashupati Renewables Added to SEBON's Pipeline

The IPO proposal of Pashupati Renewables Limited (PRLTD) has been added to SEBON's pipeline.

Pashupati Renewables has submitted a proposal to issue 14.4 lakhs shares at a par value of Rs. 100 per share. This IPO issue will generate Rs. 14.40 crore for the company.

NMB Capital Limited has been appointed the issue manager for this issue.

It is only after the approval from the regulatory board SEBON, the company can float the shares to the local and the general public.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB- to Pashupati Renewables Limited (PRLTD). Issuers with this rating are considered to have a moderate risk of default regarding timely servicing of financial obligations.

Pashupati Renewables Limited was Incorporated on December 09, 2020, as a private limited company but later converted into a public limited company on September 15, 2023. The company is developing a 10 MW Dharamnagar solar farm project (DSFP) and 15 MW DSFP-II in the Kapilvastu district of Lumbini Province of Nepal. The projects are an agro-photovoltaic solar project hich are being developed at budgeted cost of NPR 1,900 million.