Mathillo Mailung Khola Jalbidhyut Extends it's 10,00,000 units IPO Shares to Project-affected Locals Owing to Incessant Rainfall

Mathillo Mailung Khola Jalbidhyut Limited has again extended its 10,00,000 units IPO shares to the project-affected locals of Rasuwa and Nuwakot District till Bhadra 17, 2080.

Issuing a notice to state the same, the company today informed that the decision has been taken as incessant rainfall and subsequent calamities (flooding) have made banking centres inaccessible for the locals. Therefore, an extension has been granted for the IPO issuance for the locals. 

Notice: 

Earlier, Mathillo Mailung Khola Jalbidhyut Limited had closed the issue of its IPO to the Nepalese citizens working abroad from 18th Shrawan, 2080, and extended the IPO issue deadline for project-affected locals of Rasuwa and Nuwakot District till the 1st Bhadra. The issue had opened on 4th Shrawan, 2080.

The issued capital of the company is Rs. 1 Arba of which 10% i.e. 10,00,000 unit shares worth Rs. 10 Crores have been allocated to project-affected locals of Kaski District. Meanwhile, 15% of the company's issued capital i.e. 15,00,000 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 150,000 units shares have been allocated for Nepalese citizens working abroad, the issue of which will close today.

Sanima Capital has been 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, 27,233 applications have been received through Nepalese citizens working abroad for a total of 650,070 units so far.

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.