People's Power (PEPL) IPO Opening for Locals of Ilam District from Ashad 08
Tue, Jun 14, 2022 10:06 AM on IPO/FPO News, Latest,
People's Power Limited (PEPL) is opening its IPO to the project-affected locals of Ilam district from 8th Ashad and closes on 22nd Ashad, 2079. If unsubscribed, the issue can be extended up to Shrawan 05, 2079.
A total of 6,32,600 units worth Rs. 6.32 crores will be issued at par value of Rs. 100 per share. Out of offered total issue; 1,89,780 units is allocated for core project-affected locals of ward no. 1 and 4 of Ilam Municipality whereas the remaining 4,42,820 units are for the locals of Ilam District.
Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance. The interested investors can apply for a minimum of 10 shares to a maximum of 50,000 shares.
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.
CARE Ratings Nepal Limited (CRNL) has reaffirmed the rating of ‘CARE-NP BB (Is)’ assigned to Peoples Power Limited (PPL). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.
Peoples Power Limited was incorporated on January 26, 2017. It is promoted by individual promoters for the setting up of a 4.96MW run-of-river Upper Puwa-II hydropower project. The project is being constructed under “BOOT” (Build, Own, Operate and transfer) model and is located in Sakhejung and Maipokhari VDC of Ilam district of Nepal. The expected COD of the project is June 30, 2022.
