SEBON Adds 28 Lakhs IPO Shares of Manakamana Engineering Hydropower in its Pipeline

The IPO proposal of Manakamana Engineering Hydropower Limited is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 2,800,000 shares. This will raise Rs. 28 crores for the company. The application was submitted on Magh 16, 2079.

B.O.K Capital Markets has been appointed the issue manager for the public offering.

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

Manakamana Engineering Hydropower Limited is a public limited company, incorporated on July 18, 2010, as a private limited company and later converted to a public limited company on July 10, 2021. It is promoted by individual promoters having experience in hydropower and other sectors for setting up Hydroelectric Projects (HEP) in Nepal. MEHL is involved in the operation of a 5 MW run–of–the–river Ghattekhola Small Hydropower Project (GKHP) in the Dolakha district of Nepal by utilizing the available head and flow from Ghatte Khola (river). The project started commercial operation on November 08, 2020.