Initial Public Offering (IPO) of three companies have been added to SEBON’s IPO pipeline for approval.
7,250,000 unit shares of Modi Energy Limited (MODI), 1,23,00,000 unit shares of Sonapur Minerals and Oil Ltd (SMOL), and 1,627,750 unit shares of Menchhiyam Hydropower Power Ltd. (MCHPL) have been added to the IPO pipeline.
For the IPO of Menchhiyam Hydropower Power Ltd, pre-approval from Electricity Regulatory Commission has been submitted on 2079/06/09. Likewise, Nic Asia Capital Ltd. has been appointed as the issue manager for the IPO issuance.
For the other two companies, Modi Energy Limited and Sonapur Minerals and Oil Ltd, Sunrise Capital Ltd. and NIBL Ace capital has been appointed as the issue manager for the IPO issuance respectively.
About the Companies:
Modi Energy Limited was incorporated as Manang Trade Link Pvt Ltd in November 04, 1996. Later on, the name was changed into Modi Energy Pvt Ltd in May 2017. The company got converted into public limited in June 2018. The company was promoted with objective to setup hydroelectric Project (HEP) of 20 MW run-of-river, Tallo Modi Khola Hydropower Project (TMKHP). The project is being constructed under “BOOT” (Build, Own, Operate and transfer) model and is located in Parbat district of Nepal.
Sonapur Minerals & Oil Private Limited was incorporated in June 13, 2008 as a private limited company which was later converted into public limited company as Sonapur Minerals & Oil Limited on July 22, 2020. The company is presently engaged in manufacturing of cement and has installed capacity of 1,250 MTPD and 2,300 MTPD of clinker and grinding respectively. The company is selling OPC under the brand name ‘Sona Cement OPC’ and PPC under the brand name ‘Sona Shree PPC Cement’ and ‘Sonatech PPC Cement’.
Menchhiyam Hydropower Limited is a Public Limited company, incorporated on November 08, 2017 as a Private Limited company, which was then converted into public company on July 15, 2021. The company has been promoted by a group of individual businessmen. It is developing a 4.72 MW run-of-river, Upper Piluwa Khola-II Small Hydropower Project (UPKHP) in Sankhuwasabha district of Nepal by utilizing available head and flow from Piluwa Khola (river). The project is constructed under BOOT (Build, own, Operate and Transfer) mechanism.