Mewa Developers to Sell 1.12 Crore Shares in IPO
March 19, 2025 | Investopaper
Mewa Developers Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Falgun 9, 2081 BS. If approved by SEBON, the hydropower can issue the shares to the public.
The company plans to sell 1,12,00,000 unit shares at a par value of Rs. 100 in the public offering. Hence, the public issue amounts to Rs. 112 crores.
In the first phase, the company will sell shares to the locals of the project affected areas and foreign employed Nepalis. Likewise, in the second phase, the company will float shares to the general public, including the employees of the company and the mutual fund schemes.
The company has appointed Himalayan Capital Limited as the issue and sales manager. The agreement for public offering has already been signed between the company and Himalayan Capital Limited on this regard.
About Mewa Developers Limited
Mewa Developers Limited was established on July 8, 2016 as a private limited company. It was converted to a public limited company on June 23, 2021. The major promoters include Urja Developers Group, Hydroelectricity Investment and Development Company Limited (HIDCL), Nepal Life Inusrance Company Limited (NLIC) among others.
The company is currently developing two hydropower projects, namely 73.5 MW Middle Mewa Hydropower Project and 9.3 MW Siwa Khola Hydropower Project in Mikhuwa Khola Rural Municipality, Taplejung district of Nepal. Both the projects are peaking run-of-river projects.
The estimated cost of the two projects (82.8 MW) is Rs 18.54 Arba that translates into per megawatt cost of Rs. 22.40 crores. It is being financed in the debt equity ratio of 75:25.
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