Last Day to Apply for IPO of Mathillo Mailun Khola: Issue Oversubscribed by 7.38 Times

Mathillo Mailun Khola Jalvidhyut Limited is closing the issue of its 12,84,200 unit IPO shares of par value Rs. 100 from today i.e. on 22nd Ashwin, 2080. The issue opened on 18th Ashwin, 2080.

Earlier, the company had issued 10,00,000 unit shares to the project-affected locals of Rasuwa and Nuwakot District out of which only 990,800 units were allotted to valid applicants. Thus, the remaining 9,200 units of unsubscribed shares of project-affected locals are added to 15,00,000 units to make a total of 15,09,200 units for the general public.

Out of the total 15,09,200 units; 1,50,000 units have already been issued and allotted to Nepalese citizens working abroad, and 75,000 units are allotted for the mutual funds. The remaining 12,84,200 units are for the general public.

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

According to CDSC, 840,119 applicants have applied for a total of 94,78,600 units. Thus, the issue has been oversubscribed by 7.38 times as of 5 PM yesterday evening.

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.