Final SEBON approval of the IPO proposals for Ingwa Hydropower and Mai Khola Hydropower
The proposed initial public offering (IPO) of Mai khola Hydropower Limited and Ingwa Hydropower Limited has been approved by the Securities Exchange Board of Nepal (SEBON).
At a par value of NPR 100 per share, Ingwa Hydropower will now issue 1,800,000 equity shares. The offering has a value of Rs. 18 crore. This represents 30% of the outstanding capital of the corporation. After the IPO allocation, the company’s total paid-up capital would be Rs 60 crore.
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The proposed IPO’s issue manager has selecte as Nepal SBI Merchant Banking Ltd. On Falgun 02, SEBON approved the plan. In June 23, 2009, Ingwa Hydropower Ltd was establish as a private limited company. On August 25, 2014, it changed its status to a public limited corporation.
For the construction of a 9.70 MW run-of-river, Upper Ingwa Khola hydropower project (UIKHP) in Nepal’s Panchthar district, the company has received institutional and private support. Using the BOOT (Build, Own, Operate, and Transfer) framework, the project is being built.
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The same goes for Mai khola Hydropower, which will now issue 1,921,568 unit shares with a par value of 100 rupees to raise Rs. 19.21 crores. The issued capital represents 49% of this. After the IPO allocation, the company’s total paid-up capital will Rs 39.21 crore.
The issue manager is Prabhu Capital Ltd. On Falgun 03, SEBON approved the proposal.
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