Mailung Khola Jal Vidhyut Company issuing 7.36 lakh units IPO share to general public from Shrawan 14

Thu, Jul 22, 2021 5:42 AM on IPO/FPO News, Latest,

Mailung Khola Jal Vidhyut Company Limited will be issuing 7,36,286 units worth Rs 7.36 crore as Initial Public Offering to the general public from (Shrawan 14-18, 2078). The early closing date of this issue is on Shrawan 18 and if the issue is not fully subscribed till Shrawan 18, then it can be extended up to Shrawan 28, 2078.

Out of the offered 7,36,286 units; 2% of the total offered shares to the general public i.e. 14,726 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 36,814 units have been set aside for the mutual funds. The remaining 6,84,746 units are for the general public.

Siddhartha Capital Limited has been appointed as the issue manager for the IPO issuance.

Applications can be placed for a minimum of 10 units and a maximum of 1,00,00 units. 

Mailung Khola Jal Vidhdyut Company Limited has already issued 3,68,144 unit shares as part of its Initial Public Offering (IPO) for the locals of the project-affected area of Rasuwa district (1,84,072 units to the most affected local people of Dadagau and Ramche and 1,84,072 units for less affected local people of Raswa District).

The authorized capital of the company is Rs 75 crore. After the IPO issue, its paid-up capital will reach Rs 36.81 crore. After the IPO, the promoter – people of the affected area (Rasuwa district) – the public shareholding structure of the company will be 70% – 10% – 20%. Mailung Khola Jal Vidyut runs a 5 MW Mailung Khola Hydropower project located in Haku VDC, Rasuwa.

Care Ratings Nepal Limited has assigned an issuer rating of ‘CARE-NP D (Is)’ to Mailung Khola Jal Vidhyut Company Limited (MKJV). Issuers with this rating are considered to be in default (failing to repay a loan) or are expected to be in default soon.

Click here for Offer Letter: