Maya Khola Hydropower is closing the IPO issue for General Public from the 17th of Magh

Maya Khola Hydropower is closing the IPO issue for General Public from the 17th of Magh

As of today, or the 17th of Magh, Maya Khola Hydropower Company Limited is ending the offer of 19,92,000 unit shares with a face value of Rs 100. The issue began on the 13th of Magh 2079.

Out of the entire 24,00,000 units, 10%, or 240,000 units, have issue and allocate to Nepalese people living and working abroad. 2%, or 48,000 units, have reserve for firm workers, while 5%, or 120,000 units, of the total offered shares, have reserved for mutual funds. 19,92,000 of the remaining units are for the general Public.

After the IPO, the company’s paid-up capital will amount to Rs. 1 Arba. With this IPO, the business expects to raise Rs 19.92 crore.

The business has previously given 240,000 unit shares to Nepalese nationals working overseas as well as 10,000 unit shares worth 10 crores of rupees to residents impacted by the project. In all, the promoter owners own 66% of the company’s shares.

The issue manager for the IPO issuance is Prabhu Capital Ltd. A minimum of 10 units and a maximum of 100,000 units may request in an application.

10,99,211 applicants have submitted applications to CDSC for a total of 12,613,970 units. So far, there has been a 6.33 times increase in the issue’s subscription volume.

ICRA Nepal has confirm Maya Khola Hydropower Company Ltd’s issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP issuer rating double B negative). The prompt servicing of financial obligations is thought to pose a modest risk of default for issuers with this grade.

About the Maya Khola Hydropower Company

In Nepal’s Province No. 1’s Sankhuwasabha district, the 14.9 MW Maya Khola HEP is build by the Maya Khola Hydropower Company Ltd. Run-of-the-river (R-o-R) type project is created with a 40% chance of exceeding goals.

The project, which is a part of the Super-Six initiative, was first researched by the Nepali Department of Electricity Development.

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