Pure Energy Limited IPO for Locals and Nepalese Working Abroad: Key Details

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Pure Energy Limited IPO for Locals and Nepalese Working Abroad: Key Details

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

Application forms can be collected and submitted at designated branches of Nabil Investment Banking Limited, the Pure Energy website, SEBON, and 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?

  1. Growing Renewable Energy Sector: Pure Energy is a leader in solar energy production in Nepal.
  2. Strong Backing: Supported by the reputable Golyan Group.
  3. Moderate Risk: The company’s financial ratings suggest stability and reliability.
  4. 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!