Mai Khola Hydropower IPO Collects Rs. 1.48 Arba Till Fourth Day; Oversubscribed 11.66 Times from 13,31,238 Applicants

CDS & Clearing Limited (CDSC) has reported the data of the public IPO collection of Mai Khola Hydropower Limited as of 5 pm yesterday.

The company issued 12,69,411 unit shares of Rs 100 face value as Initial Public Offering to the general public from 8th Baisakh till 12th Baisakh, 2080. The company intends to collect Rs 12.69 crore from this IPO.

Out of the total 15,29,411 units; 10% i.e. 152,941 units have already been issued and allotted to Nepalese citizens working abroad, whereas 2% i.e 30,588 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 76,471 units have been set aside for the mutual funds. The remaining 12,69,411 units are for the general public. The paid-up capital of the company will reach Rs. 39.21 Crores after the IPO issuance.

Prabhu Capital Limited is appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 50,000 units.

According to CDSC, 13,31,238 applicants have applied for a total of 14,807,750 units. Thus, the issue is already oversubscribed by 11.66 times so far.

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.