People’s Power Limited has issued an offer letter to issue IPO Shares to the general public from Shrawan 31. The company had recently issued IPO Shares to the local of Illam district from Ashad 8.
After the closure of IPO opening for locals from Shrawan 05, the company is now issuing IPO Shares to the general public. People’s Power is issuing 24,67,400 unit IPO shares of face value Rs 100 to Nepalese Investors.
Investors can apply for a minimum of 10 units and maximum of 50,000 units. Prabhu Capital is the issue manager and application can be placed through Meroshare.
Out of the total offered units 24,67,400 units; 2% of the total offered shares i.e. 49,348 units have been set aside for the employees of the company and 5% i.e. 123,370 units for the mutual funds. And the remaining 22,94,682 units is being offered to the general public.
The company will collect Rs 24.67 cores after issuing the IPO and paid up capital of the company will reach to Rs. 63.26 Crores. The total promoter and public shareholding ratio of the company will be 51 : 49 after the IPO issuance.
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