IPO Proposals of Chirkhwa Hydropower and Mathillo Mailun Khola Jalvidhyut Finally Approved by SEBON

The Securities Exchange Board of Nepal (SEBON) has approved the IPO issue proposals of Chirkhwa Hydropower Limited and Bhagwati Hydropower Development Company Limited on Ashad 20, 2080.

Chirkhwa Hydropower Limited will now issue 1,200,000 equity shares at a par value of NPR 100 each. The amount of the issue is Rs. 12 Crore. This is 30% of the company's issued capital. The total paid-up capital after the IPO allotment would be Rs 40 crore of the company.

RBB Merchant Banking Limited has been appointed as the issue manager for the proposed IPO issuance. The proposal was submitted on Kartik 17, 2079.

Chirkhwa Hydropower Private Limited is an SPV set up to develop a 4.7 MW run-of-the-river Chirkhwa Hydroelectric Project along the Chirkhwa River in the Bhojpur District of Eastern Nepal.

Similarly, Mathillo Mailun Khola Jalvidhyut Limited will now issue 2,500,000 equity shares at a par value of NPR 100 each. The amount of the issue is Rs. 25 Crore. This is 25% of the company's issued capital. The total paid-up capital after the IPO allotment would be Rs 1 Arba.

Sanima Capital Limited has been appointed as the issue manager for the proposed IPO issuance. The application was submitted to SEBON on Falgun 03, 2079.

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.