Mathillo Mailung Khola Jalbidhyut To Issue IPO Shares to Locals of Rasuwa and Nuwakot District and Nepalese Employed Abroad from Shrawan 04
Tue, Jul 11, 2023 10:23 AM on IPO/FPO News, Latest,
Mathillo Mailung Khola Jalbidhyut Limited has published an offer letter to issue an Initial Public Offering (IPO) to the project-affected locals of Rasuwa and Nuwakot District and Nepalese citizens working abroad.
The IPO issue for the locals and Nepalese citizens working abroad will open from the 4th Shrawan to the 18th Shrawan, 2080. Note that for the locals of Rasuwa and Nuwakot District, if the issue is not subscribed by the early closing date, the issue can be extended till Bhadra 01. However, the issue will not be extended from the early closing date for Nepalese citizens working abroad.
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 open on the date mentioned above.
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.
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 moderate risk of default regarding 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.
