Madhya Bhotekoshi’s 1st and 2nd phase IPO to be allotted tomorrow; Issue for locals to be made soon after tomorrow’s allotment

Madhya Bhotekoshi Hydropower Company’s IPO foe the 1^st and 2^nd phase will be allotted tomorrow. The allotment will be made in Smart Café and Banquet, Dhumbarahi, Kathmandu at 3:00 PM.

Madhya Bhotekoshi had floated 1.17 crore units for the employees registered in EPF in its 1^st phase of issuance. The company had floated 21 lakh units in the 2^nd phase for the employees of the promoter companies and 6 lakh units for the employees of the Provident Fund.

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 been appointed as other co-issue managers.

CARE Ratings has issued “CARE NP IPO Grade 4+” to the issue indicating Below Average Fundamentals to the issue.

Madhya Bhotekoshi Jalavidyut Company owns 102 MW Madhya Bhotekoshi Hydropower Project in Bhotekoshi River, Sindhupalchok. The project is scheduled to start commercial operation in June 2019.

After the allotment of first and second phase of IPO issuance, the hydropower company will be floating its shares for the locals of Sindhupalchok district.