Mountain Hydro to close 12.50 lakh unit IPO to the locals of Panchthar district from today; Applicants can apply for minimum 50 units

Sun, Aug 5, 2018 1:05 AM on IPO/FPO News, Latest, Stock Market,
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Today is last day to apply for 12.50 lakh unit IPO to the locals of Panchthar district of Mountain Hydro Nepal Limited (MHNL).

MHNL is issuing 12,50,000 unit shares as Initial Public Offering for the locals of the project affected area from Ashadh 22, 2075. The issue will last till Shrawan 20, 2075 i.e.today.

Interested applicants can apply for a minimum number of 50 shares and maximum number of 6,000 shares. The interested applicants can collect and apply the forms in the designated financial institutions.

The hydropower company is issuing 7,50,000 unit shares for the locals of Phidim municipality and Hilihang rural municipality whereas the remaining 5,00,000 units is for the locals of Panchthar district.

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

The IPO issued for the locals is equal to 10% of its issued capital of Rs 1.25 arba. after the issuance of IPO, its paid up capital will stand at Rs 1.125 arba.

ICRA Nepal had assigned Grade 4 rating to the IPO issuance indicating ‘Below Average’ fundamentals.

Mountain Hydro Nepal Limited has been developing 21.6 MW Lower Hewa Khola Hydropower Project located in Panchthar District. After the issuance of IPO for the local of the project affected area, the hydropower company will issue IPO for the general public as well.