People's Power Limited Gets Approval From SEBON To Issue IPO

People's Power Limited (PEPL) has been granted permission to launch an initial public offering (IPO). The Securities Exchange Board of Nepal (SEBON) granted the company authorization to issue IPO on Jestha 27, 2079.

With the board's approval, the company will now offer 31 lakh unit shares of Rs 100 par value each of total worth Rs. 31 crores to project-affected residents and the general public. Similarly, Prabhu Capital Limited is stated to be the share issue's sales manager. 

The promoter holding in the company is 51% i.e. Rs 32.26 crores. Upon the allotment of the IPO to the general public the total paid up capital of the company will be Rs 63.26 crores. 

According to Nepal Water Resource Portal, People's Power Limited is currently developing the Puwa II Hydropower Project. The project has an installed capacity of 4.96 MW. Located in Sakhejung, Maipokhari, Barbote (Ilam), the project is currently under construction.