Mai Khola Hydropower will issue 12,69,411 unit shares in its first public offering from 8 Baishakh
The public now has access to Mai Khola Hydropower Limited’s initial public offering (IPO) offer letter.
The company will be issuing 12,69,411 unit shares of Rs 100 face value from 8th Baisakh, 2080. The company intends to collect Rs 12.69 crore from this IPO. The closing date of this issue is on 12th Baisakh 2080 & if the issue is not completely subscribe, it can extend up to 24 Baisakh, 2080.
Out of the total 15,29,411 units, 10%, or 152,941 units, have already issue and allocated to Nepalese citizens living and working abroad. 2%, or 30,588 units, have set aside for company employees. And 5%, or 76,471 units, of the total offered shares, have set aside for mutual funds.
The general public will receive the remaining 12,69,411 units. After the IPO is issue, the company’s paid-up capital will total Rs. 39.21 Crores.
Prior to this, the business had distributed 152,941 unit shares to Nepalese nationals living abroad as well as 392,157 unit shares worth Rs. 3.92 crores to residents impacted by the project. 51% of the company’s shares are own by the promoter shareholders overall. The company’s total capital following the IPO would be Rs 39.21 crore.
As the issue manager for the IPO issuance, Prabhu Capital Limited. Applications can submit for as little as 10 units or as many as 50,000 units.
Care Rating
Mai Khola Hydropower Limited has been given an issuer rating of [ICRANP-IR]BB+ by ICRA Nepal, which is pronounced as “double B plus” in ICRA NP. A moderate risk of default in the timely servicing of financial obligations is thought to exist for issuers with this grade.
Established in the year 2073 B.S., Mai Khola Hydropower Limited is a private enterprise. The Super-Mai khola Hydropower Project (3 Mw). The first (pilot) project of Mai Khola Hydropower Ltd., is about to start. It is intended to take in water and generate 18.30 GWh of energy using water from the 7.8 MW Tailrace Canal of the Super Mai Hydropower Project.
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