Jhapa Energy Limited issues IPO to locals and Nepalis working abroad

Jhapa Energy Limited has opened its Initial Public Offering (IPO) from today, July 30 (Shrawan 14), for locals affected by the project area and Nepalis working abroad.

The company received approval from the Securities Board of Nepal (SEBON) on July 15 (Ashar 31) to issue a total of 950,475 shares at a face value of Rs. 100 each.

Out of the total IPO, 10% (380,190 shares) is reserved for residents of the affected areas, and 15% (57,029 shares) for Nepalis currently in foreign employment.

Since the project is located in ward no. 4 of Shivasatakshi Municipality, 190,095 shares are allocated for people living within a 100-meter radius of the area. The remaining 190,095 shares are available for other affected locals.

Interested applicants can submit their forms at Himalayan Bank branches in Dudhe, Damak, and Surunga, as well as Machhapuchhre Bank’s Surunga and Damak branches.

Investors can apply for a minimum of 10 shares and a maximum of 5,000 shares. The application deadline for locals is from today until August 28 (Bhadra 12). For Nepalis working abroad, the early deadline is August 3 (Shrawan 18), with the final deadline on August 13 (Shrawan 28).

Himalayan Capital Limited is the issue and sales manager for this IPO.