More than 2.10 Crore units IPO of Universal Power Company listed on NEPSE; includes 96.61 Lakh units ordinary shares and 1.13 Crore units promoter shares

Nepal Stock Exchange (NEPSE) has published a notice regarding the listing of Universal Power Company Limited.

A total of 21,003,500 units of shares, issued by the hydropower company through IPO, have now been listed on the secondary market. However, the opening range for the first transaction hasn’t been mentioned.

The hydropower company had issued total 9,327,410 units (including unsubscribed 1,766,150 from locals) out of which 186,548 unit for the employees of the company; 466,370 units for mutual funds and remaining 8,674,492 units for the general public. The IPO was issued from Magh 25 to Falgun 8, 2075.

Out of the total reserved 2% of the issue capital i.e. 186,548 units for the employees of the company; only 3,450 units were subscribed by them.  Unsubscribed 183,098 units also were allotted to the general public category to make a total of 8,857,590 units (8,674,492 + 183,098 units). However, different mutual fund schemes were successfully subscribed 5% of the issue capital i.e. 466,370 units reserved for them.

It is currently developing Tallo Khare Khola Hydropower Project which has installed capacity of 11 MW. The project is located at Dolakha District, Gaurishanker Rural Municipality, ward no-5, 6 and 8. The company owns generation license of the project.