IPO Allotment: Mathillo Mailung Khola Jalbidhyut Allotted Shares To Foreign Nepalese Employee on 18th Bhadra

Mathillo Mailung Khola Jalbidhyut Limited has allotted IPO shares to Foreign Nepalese employee. The allotment program concluded on 18th Bhadra, 2080.

The issued capital of the company is Rs. 1 Arba of which 10% i.e. 10,00,000 unit shares worth Rs. 10 Crores have already been allocated to project-affected locals of Rasuwa and Nuwakot District. Meanwhile, 15% of the company's issued capital i.e. 15,00,000 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 150,000 units shares were issued to the Nepalese citizens working abroad from 4th to 18th Shrawan, 2080.

As per the allotment module, the issue had received a total of 27,233 applications for 650,070 units.

In total 1,50,000 units were allotted to 15,000 valid applicants with 10 units each.

Sanima Capital has been appointed as the issue manager. Applications could be placed for a minimum of 10 units and a maximum of 10,000 units.

CARE Ratings Nepal Limited (CRNL) has assigned the ‘CARE-NP BB-’ rating to Mathillo Mailun Khola Jalvidhyut Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations, in Nepal.

Mathillo Mailun Khola Jalvidhyut Limited is a public limited company, incorporated on August 14, 2012. It is promoted by institutional investors majorly related to Sanima Hydro group and other institutes which include Banks and Insurance companies also for setting up of a 14.3 MW run-of-river, Mathillo Mailun Khola Jalvidhyut Project in BOOT (Build, Own, Operate and Transfer) mechanism and located at Rasuwa district of Nepal.

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