SEBON Adds IPO Issue of Mathillo Mailun Khola Jalvidhyut Under Preliminary Review; 25 Lakhs Units of Shares to be Issued

The Securities Exchange Board of Nepal (SEBON) has added the IPO issue of Mathillo Mailun Khola Jalvidhyut Limited under preliminary review in the latest list of IPO pipeline status published.

The hydropower company is proposing to come out with an IPO of 2,500,000 equity shares with a face value of NPR 100 each, at par to raise capital worth Rs. 25 crores to the local and general public. Sanima Capital Limited has been appointed as the issue manager.

The application was submitted to SEBON on Falgun 03, 2079.

CARE Ratings Nepal Limited (CRNL) has assigned a ‘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.

Ingwa Hydropower Limited (IHL) was incorporated on June 23, 2009, as a private limited company, which was later converted into a public limited company on August 25, 2014. The company has been promoted by institutional promoters and individual businessmen of Nepal for setting up a 9.70 MW run-of-river, Upper Ingwa Khola hydroelectric project (UIKHP) in the Panchthar district of Nepal. The project is constructed under BOOT (Build, Own, Operate, and Transfer) mechanism