Kathmandu. Today is the last day to apply for the initial public offering (IPO) of Mount Everest Power Development Company Limited (PPDC).

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.

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.