Maya Khola Hydropower Company IPO Closing From Today for Project Affected Locals of Sankhuwasabha District

Maya Khola Hydropower Company Limited is closing the issue of its IPO to the project-affected locals of Sankhuwasabha District from today i.e. Poush 18. The issue had opened on 23rd Mangsir, 2079.

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 Sankhuwasabha District. Meanwhile, 24% of the company's issued capital i.e. 24,00,000 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 2,40,000 units shares were allocated for Nepalese citizens working abroad. The promoter-public ratio after this IPO will be 66: 34. The deadline for the IPO of Nepalese citizens working abroad also expired on Poush 08.

Prabhu Capital Limited is appointed as the issue manager.

For the project-affected locals, the minimum application quantity is 10 units while the maximum quantity is 1,00,000 units.

The IPO issue deadline for project-affected locals was extended till 24th Poush, 2079, however, the issue is oversubscribed the company is set to close the deadline today itself.

ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP issuer rating double B minus) to Maya Khola Hydropower Company Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations.