SEBON adds IPO of Madhya Bhotekoshi in its pipeline; Company issuing IPO worth Rs 1.5 arba

Mon, Jan 27, 2020 5:06 PM on IPO/FPO News, Latest, Stock Market,
SEBON adds...

Securities Board of Nepal (SEBON) has added IPO of Madhya Bhotekoshi Jalvidyut to its pipeline.

The company is issuing a total of 1.5 crore units raising a total of Rs 1.5 arba from local people and the general public.

Global IME Capital is the issue manager of the IPO. Similarly, CIT is the underwriter of the issue.

The company has a promoter shareholding of 51% while 49% (2.94 Crore units) was for ordinary shareholders. Out of the 49% stake, 19.50% (1.17 Crore units) for members of EPF, 3.50% (21 Lakh units) for Employees of Promoter shareholding companies and 1% (6 Lakh units) for employees of the loan companies were issued in the first phase and allotted on Poush 4, 2075. A total of 24% stake equaling 1.44 Crore units have been allotted.

The remaining 25% stake has been divided into 10% (60 Lakh units) for the locals of Sindhupalchowk district and 15% (90 Lakh units) for the general public. These shares will be issued in the second phase for which CIT has been appointed as the underwriter for 100% of the issue (1.50 Crore units).

Madhya Bhotekoshi Jalavidhyut Company Limited (MBJCL) is a subsidiary company of Chilime, registered as 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.

Madhya Bhotekoshi Jalavidhyut Company owns 102 MW Madhya Bhotekoshi Hydropower Project in Bhotekoshi River, Sindhupalchowk. The project is scheduled to start commercial operation in June 2019. The project will produce a total Annual Salable Energy of 542.2 GWh out of which 83.7 GWh will be produced during dry seasons and 458.5 GWh during wet seasons.