Menchhiyam Hydropower Allotted IPO Shares to Locals of Sankhuwasabha District on Chaitra 20

Menchhiyam Hydropower Limited has allotted IPO shares to the project-affected locals of the Sankhuwasabha District. The allotment program concluded on 20th Chaitra and is refunding money to the non-allottee applicants from 21st Chaitra, 2079.

The issued capital of the company is Rs. 54.25 Crores of which 10% i.e. 5,42,583 unit shares worth Rs. 5.42 crores were allocated to project-affected locals of Sankhuwasabha District. The issue had opened on 8th Falgun and was supposed to close on 25th Falgun, 2079. However, since the issue was not fully subscribed by the early closing date, the deadline was extended till 9th Chaitra, 2079. Locals could place their applications for a minimum of 10 shares to a maximum of 10,000 shares.

As per the notice published today, the company hereby informs that the issued units have been allotted to the valid applicants on 20th Chaitra, 2079.

The IPO result can be viewed on the official site of https://iporesult.cdsc.com.np/

NIC Asia Capital Limited is appointed as the issue manager. The promoter-public share ratio will be 70: 30 after this IPO.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB (Is)’ assigned to Menchhiyam Hydropower Limited. Issuers with this rating are considered to offer a moderate risk of default regarding the timely servicing of financial obligations, in Nepal

Menchhiyam Hydropower Limited is a public limited company, incorporated on November 08, 2017, as a Private Limited company, which was then converted into a public company on July 15, 2021. The company is involved in setting up of a 4.72 MW run-of-river, Upper Piluwa Khola-II Small Hydropower Project (UPKHP) in the Sankhuwasabha district of Nepal by utilizing the available head and flow from Piluwa Khola (river). The project is constructed under BOOT (Build, own, Operate, and Transfer) mechanism.

Allotment Notice