Jhapa Energy Limited to Issue IPO from Bhadra 20

Jhapa Energy Limited is set to open its Initial Public Offering (IPO) for the general public from Bhadra 20. The company had received approval from the Securities Board of Nepal (SEBON) on Ashar 31 to issue 950,475 shares at a face value of NPR 100 each.

Of the total issuance, 10% (380,190 shares) had already been allocated to locals of project-affected areas, while 15% (57,029 shares) were issued to Nepalis working abroad. The company has also reserved 28,514 shares for mutual funds and 11,406 shares for company employees. The remaining 473,336 shares will now be available for the general public.

Investors can apply for a minimum of 10 shares and a maximum of 5,000 shares until Bhadra 24. If subscriptions are insufficient within that period, the deadline will be extended until Ashoj 3. However, given the recent trend of oversubscription in IPOs, applications are expected to close within the initial deadline.

The issue manager for this IPO is Himalayan Capital Limited.