KATHMANDU, April 15: Pure Energy Limited’s IPO has been oversubscribed by 16 times with just one day remaining to apply for IPO.
According to CDS and Clearing, a total of 19.294 million shares have been applied for in the company’s IPO. However, the company had only issued 1.195 million shares.
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Applications can still be submitted online through the MeroShare system until today, as stated by the issue manager, Nabil Investment Banking Limited.
Pure Energy has a total paid-up capital of Rs 800 million. Of this, 80 percent is held by the founders, while the remaining 20 percent is being issued to the general public through the IPO.
With a capacity of 20 megawatts, Pure Energy is currently the largest solar power-producing company in Nepal. The project spans across 43 bighas of land.
According to the unaudited financial report up to the end of Poush (mid-January), the company’s net worth per share stands at Rs 96.82, while earnings per share (EPS) is only Rs 0.38. The company is currently operating at an accumulated loss. As of the end of Poush, the total accumulated loss amounts to Rs 23 million.
