Mount Everest Power Development Limited (MEPD)

Mount Everest Power Development Limited has announced that today is the final day to apply for the IPO issued for residents of the project-affected area.

The company had opened the IPO for local residents starting from Baisakh 17. It received approval from the Securities Board to issue 25,80,000 ordinary shares, equivalent to 30 percent of its total issued capital of NPR 86 crore. Out of this, 8,60,000 shares have been allocated for locals in the project-affected area.

For this IPO, local residents can apply through the Salleri (Solukhumbu) branch offices of Machhapuchchhre Bank, Nepal Bank, Prabhu Bank, and NMB Bank. Additionally, applications can also be submitted through designated branches of banks and financial institutions participating in the ASBA service approved by the Securities Board of Nepal.

The company has been assigned an issuer rating of ‘CARE-NP BB Plus’ by CARE Ratings Nepal, which indicates a moderate risk in its ability to meet financial obligations.

The IPO issuance and sales manager is NIMB S Capital Limited.

The minimum application size for this IPO is 10 shares, while the maximum application limit is 10,000 shares.