Last Day to Apply for Locals IPO of Mandakini Hydropower; Issue Closing Today
Wed, Jul 6, 2022 10:55 AM on Latest, IPO/FPO News,
Mandakini Hydropower Company Limited (MAHCL) is concluding its IPO issue of 5,88,037 units shares for the project-affected locals of Kaski district today at the end of banking hours.
The company has been issuing 5,88,037 shares at a par value of Rs. 100 per share for the project affected locals from 1st Ashad and was supposed to conclude on 15th Ashad. However, the issue was not fully subscribed till the early closing date, thus the deadline was extended to today i.e, 22nd Ashad, 2079. Locals of Machhapuchchre VDC ward no. 2, 3, 4 and 6 of Kaski District could apply for a minimum of 10 shares to a maximum of 1,00,000 shares.
BOK Capital Market is appointed as the issue manager for the IPO issuance.
According to CDSC, 922 applicants have applied for a total of 3,46,620 units till today morning.
CARE Ratings Nepal Limited (CRNL) has assigned Issuer rating of ‘CARE-NP BB+ (Is) [Double B Plus (Issuer Rating)]’ to Mandakini Hydropower Limited. Issuers with this rating is considered to have moderate degree of safety regarding timely servicing of financial obligations, in Nepal.
