Jhapa Energy Limited has opened its Initial Public Offering (IPO) for the general public from today. The company is issuing 473,336 shares at a face value of Rs. 100 each, worth Rs. 47.33 million.
Out of the total, 28,514 shares are reserved for mutual funds and 11,406 shares for company employees. General investors can apply for a minimum of 10 shares and up to 5,000 shares.
Applications can be submitted through ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON), as well as via the Mero Share platform. The IPO will close on Bhadra 24 at the earliest and Ashwin 3 at the latest.
ICRA Nepal has assigned the company a rating of “ICRA NP Issuer Rating Single B Minus,” indicating high risk in meeting financial obligations. Himalayan Capital Limited is managing the issue.
Earlier, in the first phase, the company issued IPO shares to locals of the project-affected area and Nepalis working abroad. That allotment has already been completed. The company had received SEBON’s approval for the IPO on Ashad 31.
