SEBON has approved an Issuance of  IPO shares of Madhya Bhotekoshi Jalabidyut for EPF members,Employees of Shareholders companies and lending institute; Company to float massive 1.44 crore unit of IPO shares

The hydropower company will be issuing 1.44 crore unit IPO shares(24%) worth Rs 1.44 arba 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 company will issue IPO worth Rs 90 crore (i.e. 15% of capital) to the general public 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. The project will be made on the massive Rs 15 arba.

Major shareholder’s of the company are Chillime Hydropower with 38% stake and NEA has 10% stake.