These 3 IPO Issues are in SEBON's Pipeline

Molung Hydropower Company Limited has applied to SEBON to issue its IPO. The 11th AGM of Molung Hydropower Company Limited held on 6th Falgun, 2077 discussed issuing an IPO. 35,31,000 units shares will be issued if the regulator approves the proposal.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB (pronounced ICRA NP issuer rating double B) to Molung Hydropower Company Limited.

Molung Hydropower Company Limited, incorporated on November 28, 2019, as a public limited company, was established with the objectives of investment and development of hydropower project. The company is operating a 7MW Molung Khola HPP in Okhaldhunga district, Province 1 of Nepal. The project is a run of the river (R-o-R) type and has been developed at a 40% probability of exceedance (Q40). The project was commissioned from March 26, 2018, i.e., a month prior to its Required COD of April 2018. Similarly, the project was developed at the total project cost of ~ NPR 207 million at an approximate debt-equity (D: E) of 69:31.

Sunrise Capital has been appointed the issue manager.

Similarly, Jalpa Samudayik Laghubitta has also submitted its own application. The company has appointed Prabhu Capital as the issue manager for the issuance of 5.22 lakh unit shares to the general public.

Jalpa Samudayik Laghubitta has proposed to issue 5,22,000 unit shares and has appointed Prabhu Capital as the issue manager. The agreement was signed between Ms. Bimala Yogi, CEO of the Microfinance, and MD of the merchant bank Mr.Dinesh Thakali, amid a program on Chaitra 5, 2077. After the issuance of the proposed IPO, the paid-up capital of the company will scale up to Rs 16 crore.

Rastra Utthan Laghubitta has also appointed NIBL Ace Capital as the issue manager to float its upcoming IPO and submitted its IPO proposal to the regulator.

The national level microfinance has decided to float 8.50 lakh unit ordinary shares to the general public through its IPO. The company has published the third-quarter report of FY 2077/2078 with an increment in Net Profit by a massive 283.02%. As per the report published by the company, the net profit increased to Rs. 3.26 crores as compared to Rs. 96.55 Lakhs in the corresponding quarter of the previous year.

The borrowings of the company increased to Rs. 1.71 Arba which was Rs. 68.89 crores in the corresponding quarter of the previous year. Similarly, the company’s loans and advances have increased by a 92.79% to Rs 2.51 Arba in this quarter. The net interest income (core revenue) has increased by 79.23% to Rs. 12.10 crores compared to Rs. 6.75 crores in the corresponding quarter of the previous year.

The paid-up capital of the company stood at Rs. 17.50 crores in this quarter and its reserve and surplus stood at Rs. 10.38 crores. Its annualized earnings per share (EPS) stand at Rs. 24.87. The net worth per share is Rs. 159.37.