Menchhiyam Hydropower will start issuing 934,915 unit shares for its first public offering in Baisakh 04
An offer letter for Menchhiyam Hydropower Limited’s Initial Public Offering (IPO) to the general public is Published now.
This IPO was started on the 4th of Baisakh in 2080. The corporation will issue 934,915 unit shares with a face value of Rs 100. Through this IPO, the business hopes to raise Rs 9.34 crore.
This issue’s early closing date is on the 7th of Baisakh, and if it is not completely subscribed, it can postpone until the 19th of Baisakh in 2080.
Before to this, the company had distributed to the Sankhuwasabha District residents impacted by the project 542,583 unit shares worth Rs. 5.42 crores, of which only 505,780 units had allocate to eligible applicants.
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Menchhiyam Hydropower Company Limited |
|
| Face Value | Rs. 100 |
| Issue For | General Public |
| Number of Shares | 11,21,970 Units of Share |
| For Locals | 5,42,583 Units of Shares |
| For Nepalese working Abroad | 1,08,517 Units of Shares |
| For Mutual Fund | 56,099 Units of Shares |
| For Company Employee | 22,439 Units of Shares |
| For General Public | 9,34,915 Units of Shares |
| Opening Date | 4 Baisakh 2080 |
| Closing Date | 7 Baisakh 2080 |
In order to reach a total of 11,21,970 units for the general public. The remaining 36,803 units of unsubscribed shares of project-affected locals are added to the 10,85,167 units (20% of the issued capital which is reserved for the general public).
Of the entire 11,21,970 units, 108,517 units have already been released and allocated to Nepalese people who are working overseas. 5% of the total shares offered, or 56,099 units, have also put aside for mutual funds.
The remaining 2%, or 22,439 units, have reserve for firm workers. The general public will be able to buy the remaining 934,915 units.
The promoter stockholders own 70% of the company’s shares overall. The issue manager for the IPO issuance has NIC Asia Capital Ltd.
Applications can request a minimum to a maximum of 10 to 10,000 units. Menchhiyam 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 failing to make payments on time for their debts.
This Hydropower was establish on November 8, 2017, as a private limited company. Then on July 15, 2021, it changed its status to become a public corporation.
The firm is engaged in the construction of a 4.72 Megawatt run-of-river small hydropower project known as the Upper Piluwa Khola-II Small Hydropower Project (UPKHP) in the Sankhuwasabha district of Nepal (river).
The BOOT (Build, Own, Operate, and Transfer) construction method is used for this project.
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