IPO for project-affected locals: Madhya Bhotekoshi Jalavidyut Company issuing 60,00,000 units IPO shares from Baisakh 21

Mon, Apr 26, 2021 5:55 AM on IPO/FPO News, Stock Market, Latest,

Madhya Bhotekoshi Jalavidyut Company Limited is issuing its 60,00,000 unit IPO shares to the project-affected locals of Sindupalchok District from Baisakh 21, 2078.

The IPO issue for locals is open from Baisakh 21- Jestha 4. If unsubscribed, the issue can be extended to Jestha 20, 2078. The interested locals can place their applications for a minimum of 10 units and a maximum of 400 units.

Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. 

 

10% of the company's issued capital will be issued to the locals and 15% to the general public.

CRNL has assigned ‘CARE-NP IPO Grade 4+’ to the proposed Initial Public Offering (IPO) of Madhya Bhotekoshi Jalavidyut Company Limited (MBJCL). ‘CARE-NP IPO Grade 4+’ indicates Below Average Fundamentals. 

Note that the company has already allotted shares to the depositors of Employee Provident Fund and employees of promoter shareholding company in multiple phases.

Madhya Bhotekoshi Jalavidyut Company Ltd. is a public limited company incorporated on July 29, 2010. It is promoted by NEA (a GoN Corporation) and Chilime Hydropower Company Limited (CHCL, 51% subsidiary of NEA) for setting up 102 MW run-of-river, Middle Bhotekoshi Hydroelectric Project in Sindhupalchowk district of Nepal.

Click here for Offer Letter: