Mailung Khola Hydropower’s IPO Allotment Concludes [IPO Result !!]
August 2, 2021 | Investopaper
Mailung Khola Hydropower IPO Allotment
Siddhartha Capital Limited, the issue manager for the initial public offering (IPO) of Mailung Khola Hydropower, has concluded the IPO allotment process on Tuesday
After the allotment, 68,474 applicants received 10 shares each. Out of which 6 applicants have received 11 shares. A total of 20,67,967 people had applied for the shares. Of them, 2,843 applications were disqualified with 20,65,124 eligible applicants. With the allotment, more than 19.96 lakh applicants were left empty-handed.
To view the IPO result of Mailung Khola Hydropower, click the link below:
IPO Result Of Mailung Khola Hydropower
Mailung Khola Hydropower IPO
Mailung Khola Jal Vidhyut Co. Ltd issued the shares in the Initial Public Offering (IPO) from Shrawan 14, 2078 BS. The public issue was closed on Shrawan 18, 2078 BS due to the over-subscription of shares.
The company had received the approval from Securities Board Of Nepal (SEBON) on Ashad 23, 2078 BS for the public offering.
After the approval from SEBON, the hydropower sold 736,286 shares to the general public in the IPO. This is 20 percent of the total issued capital of the company. At current, Mailung Khola Jal Vidhyut Company has a capital of Rs 29.45 crores which will increase to Rs 35.81 crores after the IPO (if fully subscribed).
Out of the total shares to be issued, 2 percent or 14,726 shares have been allotted to the employees and 5 percent or 36,814 shares have been allotted to the mutual fund schemes. Hence, the general public participated in the remaining 684,746 shares.
The hydropower company had already issued a 10 percent share to the locals of the project-affected areas.
Siddhartha Capital Limited was the issue manager for the public offering.
ICRA Nepal had assigned a rating of [ICRANP] IPO Grade 5 to the initial public offering (IPO) of Mailung Khola Hydropower. This indicates the below-average fundamentals of the company.
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About Mailung Khola Jal Vidhyut Company
Mailung Khola Jal Vidhyut Company was established on Bhadra 7, 2059 BS (July 23, 2002) as a private company. It converted into a public company on Bhadra 6, 2071 BS (August 22, 2014).
The company has successfully developed and is operating Mailung Khola hydro-electric project (HEP) since Ashad 19, 2071 BS (July 3, 2014). The project is a run-of-the-river type with an installed capacity of 5 MW located at Haku Village, Rasuwa District.
The hydropower is mainly promoted by Sopan Multiple Company Limited.
Recommended:
List Of Hydropower Projects In Nepal (Developed By Private Sector)
