Last Day for Nepalis Abroad to Apply for Jhapa Energy’s IPO
Jhapa Energy’s IPO allotment for migrant Nepali workers closes today. The company is issuing 57,029 shares at a face value of Rs 100 each.
Jhapa Energy Ltd is closing its IPO subscription today (Shrawan 18) for Nepali citizens working abroad. The offering, which opened on Shrawan 14, allocates 57,029 ordinary shares, priced at Rs 100 per share, exclusively for migrant workers with labor approval from the Government of Nepal.
Applicants are required to apply for a minimum of 10 shares and may apply for up to 5,000 shares. The issue represents 10% of the total shares reserved for the public offering.
Credit rating agency ICRA Nepal has assigned the company a [ICRA NP] IPO Grade of Single B Minus, indicating high risk in fulfilling financial obligations.
Jhapa Energy is developing a 10 MW grid-connected solar power project, with a total estimated cost of Rs 87.90 crore, or Rs 8.79 crore per MW. The company holds a generation license valid for 22 more years. The equity payback period is estimated at 9.55 years, with a project payback period of 8.06 years.
The issue is being managed by Himalayan Capital Ltd. Migrant workers can apply through any C-ASBA member banks and financial institutions authorized by the Securities Board of Nepal (SEBON).