The Securities Exchange Board of Nepal (SEBON) has green-lighted the IPO proposal for Pure Energy Limited.
The firm is set to release 1,600,000 equity shares at a nominal value of NPR 100 each. The total amount for this issuance is NPR 16 Crore.
Nabil Investment Banking Limited has been designated as the issue manager for the IPO rollout.
CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB+ (Is)’ to Pure Energy Limited (PEL). Entities with this rating are viewed as presenting a moderate risk of default concerning the punctual settlement of financial commitments in Nepal. CRNL has also updated the rating for PEL’s long-term banking facilities from ‘CARE-NP BB’ to ‘CARE-NP BB+’.
Established on June 19, 2018, Pure Energy Ltd (PEL) is supported by individual sponsors linked to the Golyan group and REnergo Developers Pvt Ltd. The company’s aim is to develop a 20 MW grid-connected solar photovoltaic (PV) project in the Raniyapur Village Development Committee within the Banke district of Nepal. Both solar initiatives are currently operational.
