Kathmandu. Mount Everest Power Development Company Limited (MPL) is issuing Initial Public Offering (IPO) to the general public from today.

The company has already issued funds to locals, Nepalis in foreign employment, employees, and mutual funds.

After this, the company has issued it to the general public from today.

The company was allowed to issue 25,80,000 units of shares worth Rs 25.80 crore, which is 30% of the issued capital of Rs 860 crore. Out of the total offered shares, 8,60,000 units are for the locals of the project affected area and 1,72,000 units are for the Nepalese who are employed abroad.

The company has set aside 34,400 units for the employees of the company and 86,000 units for the mutual funds. The company is issuing 14,27,600 units of shares at a face value of Rs 14,27,60,000 from today.

Applications can be place for minimum 10 units and maximum 10,000 units. Applications can be submitted for the IPO till June 20. If the application is not received as per the demand within the stipulated period, the application can be submitted till July 30.

The applicants can apply for the IPO through banks and financial institutions with C assurance from the Securities Board of India (SEBON) and Mero shares. NIMBS Capital has been appointed as the issue manager for the IPO issuance.