Last day to apply for IPO of Universal Power

Jan 27, 2019 Merolagani

Today is the last day to apply for IPO of Universal Power Company (UPCL).  The company started issuing the first phase initial public offering to locals of affected area from December 30. The IPO which was earlier scheduled to close on January 13 was extended to January 27.

The hydropower company is issuing 2,100,350 units of general shares to the locals of the affected area of Gaurishankar Rural Municipality, Kalinchowk Rural Municipality and BIgu Rural Municipality of Dolakha District.

The interested investors can apply for a minimum of 50 and maximum of 500,000 units of shares at a price of Rs 100 per unit. The investors can apply for the shares from Himalayan Bank-Gaurishankar Branch, Mahalaxmi Bikas Bank-Charikot Branch, NIC Asia Bank- Charikkot Branch, Siddhartha Bank- Charikot branch and Sidhu Bikas Bank at Mude Branch, Charikot Branch and Singeti branch.

ICRA Nepal has assigned grade 4 for the issue indicating below average fundamentals.

Presently, the company has a paid-up capital of Rs 1.13 billion that will reach Rs 1.34 billion after the first phase IPO.

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