SEBON allows Ashutosh Energy to issue IPO

The Securities Board of Nepal (SEBON) has allowed Ashutosh Energy Limited to issue its initial public offering (IPO). The board has approved the company's prospectus for issuing shares to the general public.

SEBON has allowed the company to publish a prospectus for the issuance of a total of 1.2 million units of shares. The face value of each unit of the company's shares has been set at Rs 100. Accordingly, the company will issue shares worth Rs 120 million.

Just the previous day, the board had allowed Kantipur Pharmaceuticals to issue its IPO.