Starting today, 17th Baishakh, 2083, Mount Everest Power Development Limited has opened its Initial Public Offering (IPO) for specific groups. The company is offering 860,000 shares to the project-affected residents of Solukhumbu District and 172,000 shares to Nepalese citizens currently working abroad. This issuance is part of the company's total public offering of 2,580,000 shares, which represents 30% of its Rs. 86 crore issued capital. For locals, the subscription period runs until 31st Baishakh, with a potential extension to 18th Jestha if not fully subscribed. Foreign-based Nepalese workers have until 23rd Baishakh to apply, with a possible extension to 31st Baishakh. Interested investors can apply for a minimum of 10 units up to a maximum of 10,000 units. NIMB Capital Limited is overseeing the offering as the issue manager. The company, which operates the 12 MW Dudhkunda Khola Hydroelectric Project in Solukhumbu, recently received a 'CARE-NP BB+' rating from CARE Ratings Nepal, reflecting a moderate risk of default.
Investment Alert: Mount Everest Power Development Launches IPO for Locals and Nepalese Working Abroad!
Mount Everest Power Development Limited has opened its IPO today, targeting project-affected residents in Solukhumbu and Nepalese citizens working overseas. The offering includes over 1 million units as part of the company's broader public share issuance plan.
Published Updated By Share Gyan
