IPO for General Public | Makar Jitumaya Suri Hydropower Company is going to issue 13,37,302 Units of IPO Shares from 19 Chaitra 2079
An offer letter for the general public to purchase shares of Makar Jitumaya Suri Hydropower Company Ltd is out now.
From the 19th Chaitra of 2079, the company will issue 13,37,302 unit shares with a Rs 100 face value. With this initial public offering, the business hopes to raise Rs 13.37 crore.
If this issue is not completely subscribed by its early closing date of 22 Chaitra, it can extend until 3 Baisakh, 2080.
A total of 15,20,000 units, or 20% of the issued capital. Have issues, of which 10%, or 152,000 units, have already allocate to Nepalese citizens living and working abroad.
In addition, 32,028 units have set aside for company employees, and 80,070 units. Or 5% of the total offered shares have reserve for mutual funds.
To the residents of the Dolakha District who would impact by the project. The business had previously distributed 760,000 unit shares worth Rs. 7.6 crores, of which only 6,78,600 units had allocate to eligible applicants.
In order to reach the 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 are reserved for the general public). In all, the promoter owners own 70% of the company’s shares.
The issue manager for the first public offering issuance has the name Prabhu Capital Ltd. A minimum of 10 units and a maximum of 10,000 units can request in an application.
Makar Jitumaya Suri Hydropower Ltd has give the issuer rating of “CARE-NP BB (Is)” by CARE Ratings Nepal Ltd (CRNL).
In Nepal, issuers with this grade are view as having a moderate risk of default in relation to the timely payment of financial obligations.
About the Makar Jitumaya Suri Hydropower Company
The merger of Suri Khola Hydropower Limited and Makar Jitumaya Hydropower Private Limited led to the establishment of Makar Jitumaya Suri Hydropower Limited on July 15, 2021.