Universal Power Company (UPCL) Sees Highest Turnover in NEPSE as Shares Complete Locking Period and Trade First Time

The shares of locals, employees, and promoters of Universal Power Company Limited (UPCL) have traded for the first time in the secondary market today.

The IPO allotment of UPCL concluded on Feb 27, 2019. After three years, shares of locals, employees, and promoters of the company completed their locking period yesterday, i.e. Feb 26, 2022. Thus, the shares became tradable from today, i.e. Feb 27, 2022.

Because of this, UPCL has seen the highest volume traded in a single day in its stock since August 08, 2021. Furthermore, UPCL also became the scrip with the highest volume of shares traded in all of NEPSE today. The stock has gained 3.02% and closed at Rs. 375.

Promoters own 54% of the company, equating to 11,341,890 shares. The rest 46%, i.e. 9,661,610 shares are owned by the general public, employees, and locals.

Approximately, 1,18,62,638 units of project-affected locals, employees, and promoters have become tradeable from today. Until today only 91.40 lakh units were trading in the secondary market. 

Universal Power Company Limited has posted a net profit of Rs 20.63 million in the second quarter of the fiscal year 2078/79. The net worth per share stands at Rs. 107.38 and the PE ratio stands at Rs. 213.31.

The company completed the construction of the 11 MW Tallo Khare Khola Hydropower Project and started electricity production on Poush 06, 2078. The company started billing NEA for the electricity sale from the month of Poush itself. UPCL is also studying the feasibility of the Inkhu Khola Hydro project (24.22 MW).

Radhi Bidyut Company Limited (RADHI) has the highest shareholding (2.646%) in UPCL with 5,55,926 shares. CEDB Hydropower Development Company Limited (CHDC) is the second-largest shareholder (2.309%) with 4,85,000 shares. After that, Ashok Gautam owns 3,30,600 shares and Puspendra Bhattarai owns 1,52,165 shares.