SEBON adds 1.44 crore unit IPO of Madhya Bhotekoshi under preliminary review; First phase of issuance to be made for employees of EPF, employees of promoter companies & lending institutions

Madhya Bhotekoshi Jalavidyut Company Limited has been listed in the SEBON’s IPO pipeline for approval. SEBON has listed 1.44 crore unit shares of Madhya Bhotekoshi Jalabidyut for preliminary review.

The hydropower company will be issuing 1.44 crore unit shares for the employees having membership of Employee Provident Fund, employees of Promoter Shareholding companies and employees of the lending institutions. It will be the first phase of issue of the shares.

After the completion of the first phase of issuance, the hydropower company will be issuing IPO worth Rs 60 crore (i.e. 10% of the capital) to the locals of the project affected area. The general public will be issued IPO worth Rs 90 crore (i.e. 15% of capital) after the issuance to the locals.

NIBL Ace Capital, Prabhu Capital, Laxmi Capital Market, Civil Capital Market, Sanima Capital and CBIL Capital have been appointed as the issue manager for the issuance.

Madhya Bhotekoshi Jalavidhyut Company Limited is a subsidiary company of Chilime Hydropower Company, registered as a public company in July 2010. MBJCL has planned to develop Middle Bhotekoshi Hydroelectric Project (MBKHEP) with an installed capacity of 102 MW in Sindhupalchowk district of Central Development Region.