Last day to apply in Madhya Bhotekoshi's 1st phase of IPO issuance; Application already received for more than 3.03 crore units

Fri, Nov 30, 2018 7:40 AM on IPO/FPO News, Latest, Stock Market,
Last day t...

Today is the last day to apply for the first phase issuance of IPO of Madhya Bhotekoshi Hydropower Company.

The first phase of the issue is only for the members registered with Employees Provident Fund (EPF). Members registered under EPF can apply for a minimum of 50 units and maximum of 500 units. 

As per the information received from the issue manager, more than 1.09 lakh applicants have applied for about 3.03 crore units.

In the second phase of the issue, employees of the Promoter shareholding companies, employees of the lending institute and employees of EPF can apply for a stake in the hydropower project. The second phase of the issue will start from 19th Mangsir, 2075 and last till 26th Mangsir, 2075. 27 Lakh units of IPO will be available in the second phase of the issue. Employees of the promoter Shareholding Company and lending institute can apply for minimum 50 units and maximum 500 units while employees of EPF can apply for minimum of 50 units and maximum 1200 units.

Global IME Capital has been appointed as the issue manager while NIBL Ace Capital, Prabhu Capital, Laxmi Capital, Sanima Capital, Civil Capital and CBIL Capital have be appointed as other co-issue managers.

The authorized capital of the company is Rs. 6.21 Arba while the issued capital is Rs.6 arba. After the completion of the issue, promoter shareholder will be holding 51% stake (3.06 Crore units) in the company, employees registered with EPF will hold 19.5% (1.17 Crore units), employees of promoter shareholding companies will hold 3.5% stake (21 Lakh units) and employees of the lending institute will hold 1% (6 Lakh units).

The following are the promoters of the company and the stake they hold in the company:

  • Chilime Hydropower Company- 2.22 Crore units
  • Nepal Electricity Authority- 60 Lakh units
  • Sindhupalchowk Hydropower Company- 6 Lakh units
  • Sindhu Investment Company Private Limited- 6 Lakh units
  • Nepal Arniko Hydropower Company Pvt. Ltd.- 6 Lakh units
  • Sindhu Bhotekoshi Hydropower Limited- 6 Lakh units

The hydropower company is issuing a total of 1.44 Crore units to the above mentioned employees. The interested applicants can apply using C-ASBA service.