Universal Power Company appoints Siddhartha Capital as issue manager; issuing 96.60 lakh IPO shares

Universal Power Company Limited has appointed issue manager. As per the notice published in company website, Siddhartha Capital Limited has been appointed as the issue manager. Now, the company will be issuing 96,61,610 unit Initial Public Offering (IPO) shares of worth Rs 96.61 crore. At first, it will be issuing 21 lakh unit IPO shares to the locals of Dolakha District and after that 75.61 lakh unit of IPO shares will be floated to the general public. The par value of the shares is Rs 100 per share. Universal Power had conducted Special General Meeting (SGM) on Magh 11, 2074 and approved the decision to issue IPO shares. Universal Power Company Ltd (UPCL) is a public company incorporated on 16 Chaitra, 2067 (March 30, 2011) as per Company Acts 2063, Nepal with the objective to develop and invest in hydropower projects. It is currently developing Tallo Khare Khola Hydropower Project which has installed capacity of 11 MW in Dolakha District and owns its generation license. The Project is located in Gauri Shankar Gaupalika-5,6,8. Its registered office is located at Kathmandu-11, Bluestar Complex, Tripureshwor.  (source: http://www.universalpowercompany.com.np)