Mount Everest Power Development Opens Public IPO Issue Worth Rs. 14.27 Crore
Following the allotment to locals and migrant workers, Mount Everest Power opens its second-phase IPO for the general public from Ashar 3.
Mount Everest Power Development Limited has officially opened its Initial Public Offering (IPO) for the general public starting Wednesday, Ashar 3. Having already completed the first-phase allotment for project-affected locals (860,000 shares) and Nepalese migrant workers abroad (172,000 shares), the company is now issuing the remaining 1,427,600 units of ordinary shares. Out of the total 30% public issuance approval, 34,400 units were reserved for company employees and 86,000 units for mutual funds. The general public can now apply for the remaining shares at a face value of Rs. 100 per share. The issue is scheduled to close early on Ashar 8, with an extended deadline up to Ashar 17 if unsubscribed.