IPO of Maya Khola Hydropower Company for Sankhuwasabha District Residents Affected by the Project Closes Today.
From today, Poush 18, Maya Khola Hydropower Company Limited will no longer accept applications from residents in Sankhuwasabha District who are impacted by the project. The problem had begun on March 23rd, 2079 (Mangsir). 10% of the company’s issued capital, or 10,00,000 unit shares, worth Rs. 10 crores, have give to Sankhuwasabha District residents who are impacte with the project.
A subsequent public issuance of 24,00,000 unit shares, representing 24% of the company’s outstanding capital, will take place. 10% of the shares, or 2,40,000 units, were reserved for Nepalese nationals who were working overseas. After this IPO, the promoter-public ratio will be 66:34. On Poush 08, the time for Nepalese nationals working overseas to file an IPO also expire. The issue manager is Prabhu Capital Ltd for this IPO. The minimum and maximum application quantities for the project’s impacted areas are 10 and 100,000 units, respectively.
The time for the residents who would affect by the project’s IPO offer was extend to the 24th of Poush in 2079. But because the issue is oversubscribe, the business intends to terminate the deadline today. ICRA Nepal has confirmed Maya Khola Hydropower Company Limited’s issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP issuer rating double B negative). For issuers with this grade, the quick servicing of financial obligations is to offer a minimal default risk.
About the IPO of Maya Khola Hydropower Company
The Maya Khola Hydropower Company Ltd. is constructing the 14.9 MW Maya Khola HEP in the Sankhuwasabha district of Nepal’s Province No. 1. A project of the “run-of-the-river” (R-o-R) type is develop with a 40% probability of exceeding objectives. The project, which is a part of the Super-Six initiative, was first researched by the Nepali Department of Electricity Development.
Keep visiting us.
Also, you may read,