Menchhiyam Hydropower IPO: Closing for Project affected locals from today

Today is the Last day to apply for Locals IPO Menchhiyam Hydropower Company

Menchhiyam Hydropower Limited is a company that is involved in setting up a small hydropower project in Nepal.

The company has going to close the issue of IPO shares to project-affected locals, with a total allocation of 5,42,583 unit shares worth Rs. 5.42 crores.

The minimum application quantity for project-affected locals is 10 units, while the maximum quantity is 10,000 units.

The firm has a total of Rs. 54.25 crores in issue capital, of which 20% will release to the public later.

Of this public issue, 10% has already allocate to Nepalese citizens working abroad.

Issue Manager= NIC Asia Capital

CARE Ratings Nepal Ltd has give the issuer rating of ‘CARE-NP BB (Is)’ assign to Menchhiyam Hydropower.

About the Company

Menchhiyam Hydropower Limited was incorporated as a private limited company in November 2017 and was later converted into a public company in July 2021.

Using the existing head and flow from Piluwa Khola, the business intends to construct a 4.72 MW run-of-river Upper Piluwa Khola-II Small Hydropower Project in the Sankhuwasabha area of Nepal (river).

The project will be constructed under the BOOT (Build, Own, Operate, and Transfer) mechanism.

The company has a moderate risk of default according to CARE Ratings Nepal Ltd, and the project will  constructe under the BOOT mechanism.

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