IPO Proposals of Ingwa Hydropower and Mai Khola Hydropower Finally Approved by SEBON

The Securities Exchange Board of Nepal (SEBON) has approved the proposed IPO issue of Mai khola Hydropower Limited and Ingwa Hydropower Limited.

Ingwa Hydropower will now issue 1,800,000 equity shares at a par value NPR 100 each. The amount of the issue is Rs. 18 Crore. This is 30% of the company's issued capital. The total paid up capital after the IPO allotment would be Rs 60 crore of the company.

Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the proposed IPO issuance. The proposal was approved by SEBON on Falgun 02.

Ingwa Hydropower Limited was incorporated on June 23, 2009 as Private Limited company, which was later converted in Public Limited company on August 25, 2014. The company has been promoted by institutional promoters and individual businessmen of Nepal for setting up of a 9.70 MW run-of-river, Upper Ingwa Khola hydroelectric project (UIKHP) in Panchthar district of Nepal. The project is constructed under BOOT (Build, Own, Operate and Transfer) mechanism

Similarly, Mai khola Hydropower will now issue 1,921,568 unit shares of Rs 100 par value and raise Rs. 19.21 crores. This is 49% of the issued capital. The total paid up capital after the IPO allotment would be Rs 39.21 crore of the company.

Prabhu Capital Limited has been appointed the issue manager. The proposal was approved by SEBON on Falgun 03.

Mai Khola Hydropower Ltd is a private company established on the year of 2073 B.S. The first (pilot) project of Mai Khola Hydropower Ltd. is Super-Mai Cascade Hydropower Project (3 Mw), which is going to be commenced in very near future. It is designed to take water by tapping water from Super Mai Hydropower Project (7.8 MW) Tailrace Canal, generate 18.30 GWh of energy.