SEBON Approves Mailung Khola Hydropower To Float 736,286 Shares In IPO

22 Upcoming Initial Public Offerings (IPOs) – NEPSE 2021

The shares of Mailung Khola Jal Vidhyut Co. Ltd are being issued in an Initial Public Offering (IPO). On Ashad 23, 2078 BS, the business gained authorisation from the Securities Board of Nepal (SEBON) for a public offering.

Following SEBON’s clearance, the hydropower will now issue 736,286 shares to the general public in an initial public offering (IPO). This represents 20% of the company’s total issued capital. Mailung Khola Jal Vidhyut Company now has a capital of Rs 29.45 crores, which will grow to Rs 35.81 crores following the IPO (if fully subscribed).

Locals in the project-affected areas have already received a 10% share of the hydropower corporation.

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The issue manager for the public offering has been named Siddhartha Capital Limited.

The initial public offering (IPO) of Mailung Khola Hydropower has been given a [ICRANP] IPO Grade 4+ grade by ICRA Nepal. This shows that the company’s fundamentals are below average.

About Mailung Khola Jal Vidhyut Company

Mailung Khola Jal Vidhyut Company was founded as a private company on Bhadra 7, 2059 BS (July 23, 2002). On Bhadra 6, 2071 BS, it became a public company (August 22, 2014).

Since Ashad 19, 2071 BS, the firm has successfully created and operated the Mailung Khola hydroelectric project (HEP) (July 3, 2014). The project, which is located in Haku Village, Rasuwa District, is a run-of-the-river type with a 5 MW installed capacity.

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Sopan Multiple Company Limited is the main promoter of hydropower.

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