IPO Allotted Menchhiyam Hydropower to the Locals of Sankhuasabha Districts on 20 Chaitra

IPO Allotted Menchhiyam Hydropower to the Locals of Sankhuasabha Districts on 20 Chaitra

The residents of the Sankhuwasabha District who would impact by the project have received IPO shares from Menchhiyam Hydropower Company.

The allocation scheme came to an end on the 20th Chaitra. And as of the 21st Chaitra, 2079, applicants who are not selecte are receiving refunds.

10% of the company’s issued capital, or 5,42,583 unit shares worth 5.42 crores, were given to Sankhuwasabha District residents who were impacted by the project.

The topic had introduced on Falgun 8 and was scheduled to resolve on Falgun 25, 2079. The early closure date was extended till the 9th Chaitra of 2079. However, this was because the issue was not completely subscribed at that time.

The number of shares for which locals might submit applications ranged from 10 to 10,000.

The company hereby notifies all interested parties that, in accordance with the notice published today. The issued units are distribute to eligible applicants on Chaitra 20, 2079.

On the IPO’s official website, at https://iporesult.cdsc.com.np or Mero share users may examine the results. The issue manager is NIC Asia Capital Ltd. Following this IPO, the ratio of promoter to public shares will be 70:30.

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The issuer rating of “CARE-NP BB (Is)” give to Menchhiyam Hydropower Ltd by CARE Ratings Nepal Limited (CRNL) has upheld. When it comes to timely payment of financial obligations, issuers in Nepal with this grade are regarded as having a moderate risk of default.

About the Company: – IPO Allotted Menchhiyam Hydropower

Menchhiyam Hydropower Limited was first established as a private limited company on November 8, 2017. And it became a public business on July 15, 2021.

By exploiting the existing head and flow from Piluwa Khola. The business is engaged in the construction of a 4.72 MW run-of-river Upper Piluwa Khola-II Small Hydropower Project (UPKHP). In the Sankhuwasabha region of Nepal (river). Using the BOOT (Build, Own, Operate, and Transfer) method, the project is being built.

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