Pure Energy Limited has opened its IPO sale today, Chaitra 28. The company has opened the IPO sale for the general public.
Pure Energy is issuing and selling 1,195,200 shares at Rs. 100 per share, totaling Rs. 11.95 crores. Applications can be submitted for a minimum of 10 shares to a maximum of 100,000 shares.
The IPO can be applied for through C-ASBA-approved banks and financial institutions, as well as through Meroshare. Credit rating agency CARE Ratings Nepal has assigned the company a CARE-NP BB issuer rating, indicating moderate risk in the company's ability to meet its obligations. Golchha Group has invested in this company.
Nabil Investment Banking has been appointed as the sales manager for this IPO. The rating agency has stated that the company's solar energy project, with a capacity of 20 megawatts, has a project cost of Rs. 2.02 billion.
Earlier, the company had already sold 160,000 shares, equivalent to 2% of its issued capital of Rs. 80 crores (Rs. 1.6 crores), to locals. Similarly, the company has also sold 144,000 shares for Nepalis working abroad.
The deadline for the general public to apply for this IPO is Baisakh 2. If the shares remain unsold, applications can be submitted until Baisakh 11.