Today is the Last day for Locals of Parbat District to apply for the IPO of Modi Energy

Today is the Last day for Locals of Parbat District to apply for the IPO of Modi Energy

On Thursday, Chaitra 16, 2079, Modi Energy Limited will finish issuing 29,00,000 units of IPO shares to the people impacted by the project. On Falgun 25, 2079, the problem first surfaced.

10%, or 29,00,000 unit shares, worth Rs. 29 crores, have been awarded to Parbat District residents who would be impacted by the project out of the company’s issued capital of Rs. 2.9 Billion.

A subsequent public offering of 43,50,000 unit shares, representing 15% of the company’s outstanding capital, will take place.

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10% of the shares totalling 435,000 units, which were part of this public offering that ended on the ninth of Chaitra, were reserved for Nepalese nationals working overseas.

The minimum and maximum application quantities for the project’s localities are 10 and 1000 units, respectively. The issue manager has been chosen, and that person is Sunrise Capital Ltd.

It has change from “CARENP BB+ (Is)” to “CARE-NP D (Is)” by CARE Ratings Nepal Ltd (CRNL).

Today is the Last day for Locals of Parbat District to apply for the IPO of Modi Energy

This grade indicates that an issuer is now in default or is likely to do so shortly. On November 4th, 1996, Manang Trade Link Pvt Ltd became the precursor to Modi Energy Ltd.

The name was later change on May 28, 2017, to Modi Energy Pvt Limited. On June 21, 2018, the business underwent a public limited conversion.

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For the purpose of establishing the hydroelectric project (HEP) of the 20 MW run-of-river, Tallo Modi Khola Hydropower Project, the firm has develope by institutional promoters and individual businesses with extensive expertise in various industries (TMKHP).

The project is being constructe in the Parbat region of Nepal using the “BOOT” (Build, Own, Operate, and Transfer) model. On September 30, 2021, it was put into action.

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