Mailung Khola Jal Vidhdyut Company Limited has received approval to issue IPO (Initial Public Offer). The Securities Board of Nepal (Sebon) has approved the IPO proposal of the company to issue a total of 7,36,286 units.
Mailung Khola Jal Vidhdyut Company Limited is about to issue 20% of its issued capital to the public in an IPO. Siddhartha Capital will appointed as issue manager for the IPO.
In the meantime, the company has previously issued 368,144 (10%) IPOs for project-affected local peoples under two steps 1,84,072 units to the most affected area local people of Dadagau and Ramche and 1,84,072 units for less affected area’s local people of Raswa District).
ICRA Nepal Limited had given an [ICRANP] IPO Grade 5 to the NRs. 7.36 crore worth Initial Public Offer of Mailung Khola Jal Vidhyut Company Limited. Instruments with this grading are considered to have poor fundamentals.
The authorized capital of the Mailung Khola Jal Vidhyut Company Limited is NRs 75 crore. Subsequently the IPO issue, its paid-up capital will be reached NRs 36.81 crore. And the promoter – people of the affected area and – the public shareholders structure of the company will be 70 – 10 – 20 percent.
Mailung Khola Jal Vidhyut Company Limited runs a 5 MW Mailung Khola Hydropower project located at Haku VDC, Rasuwa district.
