Mathillo Mailun Khola Jalvidhyut IPO Collects Rs. 1.39 Arba From 12.51 Lakh Applicants; Oversubscribed by 10.83 Times Till Last Day

Mathillo Mailun Khola Jalvidhyut Limited issued its Initial Public Offering (IPO) of 12,84,200 unit shares to the general public from 18th Ashwin to 22nd Ashwin, 2080.

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

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

According to CDSC, 12,51,183 applicants applied for a total of 13,901,800 units worth Rs. 1.39 Arba. Thus, the issue is oversubscribed by 10.83 times till the closing day.

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.