Jhapa Energy Limited is set to launch its Initial Public Offering (IPO) for the general public starting Bhadra 20. The company will issue 473,336 shares with a face value of Rs 100 each, totaling Rs 4.73 crore.
Out of the total issue, 28,514 shares are reserved for mutual funds, and 11,406 shares for company employees. Investors can apply for a minimum of 10 shares and up to 5,000 shares.
Applications can be submitted through ASBA member bank and financial institutions approved by the Securities Board of Nepal (SEBON) or via the Mero Share online platform.
The IPO will close as early as Bhadra 24 or by Ashoj 3 at the latest, depending on demand.
ICRA Nepal has given Jhapa Energy a rating of “ICRA NP Issuer Rating Single B Minus,” indicating a high risk regarding the company’s capacity to meet its financial obligations.
Himalayan Capital Limited is managing the IPO process.
This is the second phase of the IPO. In the first phase, starting Shrawan 14, the company offered shares to locals affected by the project in Jhapa and to Nepalis working abroad, which has already been allotted.
