Mai Khola Hydropower Allotted IPO Shares to Project-affected Locals and Nepalese Employed Abroad on Chaitra 27

Mai Khola Hydropower Limited has allotted IPO shares to the project-affected locals of the Ilam District and Nepalese citizens working abroad. The allotment program concluded on Chaitra 27, 2079.

The issued capital of the company is Rs. 39.21 Crores of which 10% i.e. 392,157 unit shares worth Rs. 3.92 crores were allocated to project-affected locals of Ilam District. Meanwhile, 39% of the company's issued capital i.e. 15,29,411 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 152,941 units shares were allocated for Nepalese citizens working abroad. The issue had opened on 25th Falgun, 2079.

As per the notice published today, the company hereby informs that the issued units have been allotted to the valid applicants on 27th Chaitra, 2079.

Prabhu Capital Limited was appointed as the issue manager.

The IPO result can be viewed on the official site of Prabhu Capital Limited or CDSC, as per the media statement.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB+ (pronounced ICRA NP issuer rating double B plus) to Mai Khola Hydropower Limited. Issuers with this rating are considered to have a moderate risk of default in the timely servicing of financial obligations.

Mai Khola Hydropower Limited is a private company established in 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 the very near future. It is designed to take water by tapping water from Super Mai Hydropower Project (7.8 MW) Tailrace Canal, generating 18.30 GWh of energy.

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