Panchthar Power Company's IPO for locals floats from today; Company issuing 9.62 lakh unit shares

Panchthar Power Company Limited will be issuing 9,62,500 units as Initial Public Offering for the locals of Panchthar district from today till Magh 14, 2075.

The locals of Bharpa, Yangnam and Nangin rural municipality and currently Fidim Municipality, Hilifang and Falelung Municipality will be able to apply in the issuance.

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

Applications can be placed for minimum 10 units and maximum 9,620 units. The application forms can be collected and deposited in the branches of the following branches:

1. Agriculture Development Bank Limited, Phidim, Pachthar
2. Century Bank Limited, Phidim, Pachthar
3. Goodwill Finance Limited, Phidim, Pachthar and
4. The corporate office of Pachthar Power Company, Yangnam, Pachthar

After the issuance of IPO for the locals, the hydropower company will be issuing 9,62,500 units for the general public which will raise its paid-up capital to Rs 96.25 crore.

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

The per megawatt cost of the project has been estimated to be Rs 17.45 crore and the total cost of the project has been estimated to be Rs 2.61 arba.

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.