KATHMANDU, August 7: People's Power Limited is going to open the issue and sale of ordinary shares to the general public. 

The company is going to open the Initial Public Offering (IPO) sale to the general public from August 16. The company is going to issue over 2.4 million units of shares at the rate of Rs 100 per share, i.e. two percent to the employees of the company and 123,370 shares i.e. 5 percent to collective investment funds and the remaining over 2.2 million shares to the general public.

According to the public invitation letter, ordinary investors can apply for the purchase of minimum 10 shares to maximum 50,000 shares until August 21, and if no application is received during that period, they can apply for purchase until August 30. Investors can apply through the ASWA system from banks and financial institutions participating in the ASWA service licensed by the Securities Board of Nepal and also through the website and mobile app of 'Mero Share'.

The company is constructing the Puwa-2 Hydropower Project with a capacity of 4.96 megawatts in the Puwa River in Illam Municipality 1 and 4 of Illam. Prabhu Capital Limited is the issue and sales manager of the company. Care Rating Nepal has given the company a 'CareNP-BB IS' grade.

 
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