From today, the Makar Jitumaya Suri Hydropower Company will close its 1,337,302 Unit initial public offering of shares
As of today, or the 22nd Chaitra, Makar Jitumaya Suri Hydropower Company Ltd is ending the offer of 1,337,302 unit shares of Rs 100 face value. On the 19th Chaitra of 2079, the issue was start.
Out of the 15,20,000 units, or 20% of the issued capital, 10%, or 152,000 units, have already issue and allocate to Nepalese citizens living abroad.
In addition, 2% of the shares, or 32,028 units, have been set aside for the company’s employees, and 5% of the shares, or 80,070 units, have allocate to mutual funds.
Just 6,78,600 of the 760,000 units that the firm had granted to the Dolakha District residents who would impacte by the project and for a total value of Rs. 7.6 crores had assigne to eligible applicants.
To produce a total of 13,37,302 units for the general public, the remaining 81,400 units of unsubscribed shares of project-affected residents are added to the 12,55,902 units (which is reserved for the general public).
Through this IPO, the business hopes to raise Rs 13.37 crore. In all, the promoter owners own 70% of the company’s shares.
10,29,494 applicants have submitted applications to CDSC for a total of 1,15,36,860 units. The issue has so had an excess of subscriptions by 8.62 times.
The issue manager for the IPO issuance has select Prabhu Capital Ltd. A minimum of 10 units and a maximum of 10,000 units may requeste in an application.
Care Ration of Makar Jitumaya Suri Hydropower Company
The issuer rating of “CARE-NP BB (Is)” given to Makar Jitumaya Suri Hydropower Ltd by CARE Ratings Nepal Ltd (CRNL) has confirme. In Nepal, issuers with this grade are view as having a moderate risk of default with relation to the timely payment of financial obligations.
After the merging of Makar Jitumaya Hydropower Private Limited and Suri Khola Hydropower Limited. Makar Jitumaya Suri Hydropower Ltd was establish on July 15, 2021.
Both the 6.4 MW run-of-river Suri Khola Hydropower Project and the 7 MW Upper Suri Hydropower Project. Are now develope by the combined company in Nepal’s Dolakha province.
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