Universal Power Company set to open between Rs.101.11 to Rs.303.33 for the first transaction; scrip assigned with UPCL as stock symbol

The newly listed hydropower company, Universal Power Company Limited has been designated with the stock symbol of UPCL. The opening rage for the first transaction is set at Rs.101.11 to Rs.303.33 as per the notice published by NEPSE.

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.