•      Sat Jul 13 2024

Mai Khola Hydropower IPO shares from today


Kathmandu, April 21: Mai Khola Hydropower Limited is opening the issue of 12,69,411 unit shares of Rs 100 face value from today i.e. on 8th Baisakh, 2080 BS. The company intends to collect Rs 12.69 crore from this IPO. The early closing date of this issue is on 12th Baisakh and if the issue is not fully subscribed, it can be extended up to 24th Baisakh, 2080.

Out of the total 15,29,411 units; 10% i.e. 152,941 units have already been issued and allotted to Nepalese citizens working abroad, whereas 2% i.e 30,588 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 76,471 units have been set aside for the mutual funds. The remaining 12,69,411 units are for the general public. The paid-up capital of the company will reach Rs. 39.21 Crores after the IPO issuance.

Earlier, the company had issued 392,157 unit shares worth Rs. 3.92 crores to the project-affected locals and 152,941 unit shares to Nepalese citizens working abroad. Overall, 51% of shares are of the promoter shareholders in the company. The total capital after the IPO will be Rs 39.21 crore of the company.

Prabhu Capital Limited is appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 50,000 units.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB+ (pronounced ICRA NP issuer rating double B plus) to Mai Khola Hydropower Limited. Issuers with this rating are considered to have a moderate risk of default in the timely servicing of financial obligations.

Mai Khola Hydropower Limited is a private company established in the year of 2073 B.S. The first (pilot) project of Mai Khola Hydropower Ltd. is Super-Mai Cascade Hydropower Project (3 Mw), which is going to be commenced in the very near future. It is designed to take water by tapping water from Super Mai Hydropower Project (7.8 MW) Tailrace Canal, generating 18.30 GWh of energy. (sharesansar.com)

Discover more from Enewspolar

Subscribe now to keep reading and get access to the full archive.

Continue reading