Last day to grab IPO share worth Rs 15 crore of Arun Kabeli for project affected resident of Panchthar & Taplejung district; already oversubscribed by 3.6 times

25 MW Arun Kabeli Power Limited has been  issuing 15,00,000 unit shares worth Rs 15 crore as part of its initial public offering (IPO) at face value of Rs 100 for the locals of project affected people of Taplejung and Panchthar district from Jestha 3, 2073. Today is the last day of the IPO. The offer closes today (Jestha 17, 2073). The maximum closing date for the offer is Ashad 5, 2073. As per the official of Siddhartha Capital Limited, “The total collection of the IPO reached Rs 54 crore till Jestha 14, 2073 (Oversubscribed by 3.6 times). More than 7 thousand application forms were received.” Interested people must apply for a minimum of 50 units of share and they can apply for up to   10,000 unit of share. Siddhartha Capital Limited has been assigned as the issue manager for the IPO issue. Of the total 15, 00,000 unit shares, the hydropower company has set aside 6, 00,000 unit shares for the core project affected area of (Nagi, Amarpur and Tharpu VDC’s) of Panchthar district and (Sablakhu, Sinam, Thumbedin and Chaksibote VDC’s) of Taplejung district  and remaining 9, 00,000 unit shares for the rest of VDC’s of Taplejung and Panchthar district. The authorized capital of company is Rs 1 arba 50 crore. After the IPO for the locals of project affected area, the paid up will reach Rs 1 arba 20 crore. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below average fundamentals to the proposed initial public offering (IPO) of Arun Kabeli Power Company. After the IPO for the locals of project affected area, the company will be floating 30, 00,000 units shares i.e. 20% of the paid up capital as a part of IPO for the general public and staff of Arun Kabeli power company..