IPO Proposal of Menchhiyam Hydropower Finally Approved by SEBON; Company to Issue IPO Worth Rs 16.27 Crore Soon

The Securities Exchange Board of Nepal (SEBON) has approved the proposed IPO issue of Menchhiyam Hydropower Limited on Magh 19.

The company will now issue 1,627,750 equity shares at a par value of NPR 100 each. The amount of the issue is Rs. 16.27 Crore. This is 30% of the company's issued capital. The total paid-up capital after the IPO allotment would be Rs 54.25 crore of the company.

NIC Asia Capital Limited has been appointed as the issue manager for the proposed IPO issuance.

Menchhiyam Hydropower Limited is a public limited company, incorporated on November 08, 2017, as a Private Limited company, which was then converted into a public company on July 15, 2021. The company is involved in setting up of a 4.72 MW run-of-river, Upper Piluwa Khola-II Small Hydropower Project (UPKHP) in the Sankhuwasabha district of Nepal by utilizing the available head and flow from Piluwa Khola (river). The project is constructed under BOOT (Build, own, Operate, and Transfer) mechanism.