Pure Energy Limited (PEL) has announced an Initial Public Offering (IPO) for project-affected locals in Banke District and Nepalese citizens working abroad. This IPO is a great opportunity for both groups to invest in a growing renewable energy company. Let’s break down the details in simple terms.
IPO Dates and Allocation
- IPO Opening Date: 20th Falgun, 2081
- Early Closing Date: 5th Chaitra, 2081
- Extended Closing Date for Locals: 20th Chaitra, 2081 (if shares are not fully subscribed)
Note: The IPO will not be extended for Nepalese citizens working abroad after the early closing date.
Share Allocation
- For Locals of Banke District: 1,60,000 unit shares (2% of issued capital) worth Rs. 1.60 Crores.
- For Nepalese Working Abroad: 1,44,000 unit shares (10% of the public issue).
- General Public: 14,40,000 unit shares (18% of issued capital) will be issued later.
Application Details
- For Locals:
- Minimum application: 10 units
- Maximum application: 16,000 units
- For Nepalese Working Abroad:
- Minimum application: 10 units
- Maximum application: 7,200 units
How to Apply
- Locals: Applications can be submitted at designated branches of Nabil Bank, Laxmi Sunrise Bank, Siddhartha Bank, and Kumari Bank in Kohalpur, Nepalgunj, and Khajura.
- Nepalese Working Abroad: Applications can be made online through the Mero Share platform.
About Pure Energy Limited
- Established: June 19, 2018
- Backed By: Golyan Group and REnergo Developers Pvt. Ltd.
- Focus: Renewable energy, specifically solar power.
- Projects:
- Two operational solar projects in Banke District with a combined capacity of 20 MW.
- These projects have been commercially operational since 2080.
Financial Ratings
- Issuer Rating: CARE-NP BB+ (Is) by CARE Ratings Nepal Limited (CRNL).
- This rating indicates a moderate risk of default, meaning the company is considered stable for timely financial obligations.
- Bank Facility Rating: Revised to CARE-NP BB+ from CARE-NP BB.
Why Invest in Pure Energy?
- Growing Renewable Energy Sector: Pure Energy is a leader in solar energy production in Nepal.
- Strong Backing: Supported by the reputable Golyan Group.
- Moderate Risk: The company’s financial ratings suggest stability and reliability.
- Opportunity for Locals and Diaspora: A chance to invest in a sustainable future while earning returns.
Conclusion
The company’s IPO is a golden opportunity for project-affected locals in Banke District and Nepalese citizens working abroad to invest in a promising renewable energy company. With a strong focus on solar energy and backing from the Golyan Group, this IPO offers a chance to be part of Nepal’s green energy revolution. Don’t miss out—apply before the deadlines!