From today, Modi Energy will issue 55,59,420 IPO shares to the general public

From today, Modi Energy will issue 55,59,420 IPO shares to the general public

Modi Energy Limited will issue 55,59,420 unit IPO shares with a face value of Rs 100 to the general public starting today, on the 19th of Baisakh, 2080. This IPO is expect to generate Rs 55.59 crore for the company. The early closing date is on 24th Baisakh, and if it is not completely subscribe, it can extend until the 2nd Jestha, 2080.

Previously, the business provided 29,00,000 unit shares worth Rs. 29 crores to project-affected Parbat District residents, but only 804,390 units, or 27.73%, were allocated to legitimate applicants.

In order to reach the 43,50,000 units earmarked for the general public (15% of the issued capital) and the remaining 20,95,610 unsubscribed shares of project-affected locals, a total of 64,45,610 units are made available to the public.

Of the total 64,45,610 units, 435,000 have already issue and assigne to Nepalese people working abroad, 5% of the total offered shares, or 322,280 units, have put aside for mutual funds, and 2%, or 128,910 units, have set aside for firm personnel. 55,59,420 of the remaining units are destined for the general population.

In total, the promoter owners own 75% of the company’s shares. The issue manager for the IPO issuance is Sunrise Capital Ltd. An application can apply for a minimum of 10 units and a maximum of 100,000.

The Issuer Rating of Modi Energy Ltd has change from “CARENP BB+ (Is)” to “CARE-NP D (Is)” by CARE Ratings Nepal Ltd (CRNL). This grade indicates that an issuer is currently in default or soon will.

On November 4, 1996, Manang Trade Link Pvt Ltd was transform into Modi Energy Ltd. On May 28, 2017, the name was subsequently change to Modi Energy Pvt Ltd.

About the Company

On June 21, 2018, the business became a public limited corporation. Tallo Modi Khola Hydropower Project (TMKHP), a 20 MW run-of-river hydroelectric project, has support from institutional promoters and individual businesses with extensive experience in a variety of industries.

The project is being built in Nepal’s Parbat area using the “BOOT” (Build, Own, Operate, and Transfer) construction model. It started working on September 30, 2021.

Keep Visiting us.

Also, Read,

“RBB Mutual Fund 2” Mutual Fund Scheme

IPO Results or Allotment of Mai Khola Hydropower

Mero Share | Mero Share Login | How to reset Mero Share Forgot Password | Complete Details On Mero Share Dashboard

Upcoming IPOs in Nepal 2023 updated List