IPO Issue of Mount Everest Power Development Limited Closing Today; Oversubscribed 20.09 Times So Far

Mount Everest Power Development Limited is closing the issue of 14,27,600 units of IPO shares at a par value of Rs 100 from today, i.e., 8th Ashadh, 2083. The issue was opened for the general public on 3rd Ashadh, 2083.

The company's issued capital is Rs. 86 Crores. Of this, 30%, i.e., 25,80,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, amounting to 8,60,000 unit shares worth Rs. 8.60 Crores, were allocated to project-affected locals in Solukhumbu District. The remaining 20% of the issued capital, i.e., 17,20,000 unit shares, are for the general public. Of this general public issue, 10% of 17,20,000 , a total of 1,72,000 unit shares, were allotted to Nepalese citizens working abroad.

Of the general public issue, 2%, i.e., 34,400 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 86,000 units, have been reserved for mutual funds. The remaining 14,27,600 units will be issued for the general public and will closed from today.

NIMB Ace Capital Limited has been appointed the issue manager for the public offering. Applications could be placed for a minimum of 10 units and a maximum of 10,000 units.

According to CDSC, 26,18,783 applicants have applied for 2,86,90,560 units. Thus, the issue has been oversubscribed 20.09 times.

CARE Ratings Nepal Limited (CRNL) has reaffirmed Mount Everest Power Development Limited’s issuer and long-term bank facility rating at ‘CARE-NP BB+’, indicating a moderate risk of default, and has assigned a ‘CARE-NP A4+’ rating to its short-term bank facilities.

Mount Everest Power Development Limited (MEPDL), a public limited company incorporated on November 16, 2014, has been operating the 12 MW run-of-river Dudhkunda Khola Hydroelectric Project in Solukhumbu district since July 31, 2024. The project has been developed under the BOOT (Build, Own, Operate and Transfer) model.