The company started issuing IPO to locals of the affected area of Panchthar from January 14. The IPO that was supposed to close on January 28 was extended till February 12.
The company has appointed Sanima Capital as its issue manager. The interested applicants can apply for a minimum of 10 units and a maximum of 9,620 units of shares at a price of Rs 100 per share.
The interested applicants can apply for the shares from the office of Panchthar Power Company at Phidim, Panchthar. Moreover, the applicants can apply from Phidim-Panchthar branch of Agriculture Development Bank, Century Commercial Bank and Goodwill Finance.
The company has a current paid-up capital of Rs 770 million which will reach Rs 866.25 million after the IPO.
After the first phase IPO, the company will issue second phase IPO consisting another 10 percent shares of its issued capital to the general public including its employees.
