Allotment of Madhya Bhotekosi’s 1st and 2nd phase IPO issue concludes; total of 148,828 applicants allotted with 1.44 Crore units of shares

The issue manager of Madhya Bhotekoshi Hydropower Company’s IPO, Global IME Capital, has concluded the allotment process of the 1^st and the 2^nd phase issue.

For the first phase of the issue, which was for the members of EPF, out of 139,778 valid applicants, 24,866 applicants applying for 50 units to 90 units have been fully allotted. 114,912 applicants, applying for 100 units to 500 units have been allotted with 90 units each. Remaining 45,430 unit shares have been allotted through lottery system for applicants applying for 100 units to 500 units (4,543 applicants receiving 10 units each).

For the second phase, 8,439 valid applications were received from employees of promoter share-holding company. 573 applicants applying for 50 units to 250 units have been fully allotted. 7,866 applicants applying for 260 units to 500 units have been allotted with 250 units each and remaining 17,120 units have been allotted through lottery system to the applicant applying for 260 units to 500 units (1,712 allotted with 10 units each).

612 applications were received from employees of EPF. All the applicants have been allotted shares as per the module determined by the EPF.

A total of 148,828 applicants have been allotted with 1.44 Crore units of shares.

Global IME Capital has been appointed as the issue manager while NIBL Ace Capital, Prabhu Capital, Laxmi Capital, Sanima Capital, Civil Capital and CBIL Capital have been appointed as other co-issue managers.

Madhya Bhotekoshi had floated 1.17 crore units for the employees registered in EPF in its 1^st phase of issuance. The company had floated 21 lakh units in the 2^nd phase for the employees of the promoter companies and 6 lakh units for the employees of the Provident Fund.

Madhya Bhotekoshi Jalavidyut Company owns 102 MW Madhya Bhotekoshi Hydropower Project in Bhotekoshi River, Sindhupalchok. The project is scheduled to start commercial operation in June 2019.

The hydropower company will be floating its shares for the locals of Sindhupalchok district.