IPO Date to Apply for Madhya Bhotekoshi Hydropower Company Limited

Madhya Bhotekoshi Hydropower Company Limited has issued an initial public offering (IPO) to the public from Wednesday (2078 Ashoj 20 / 2021 October 6). The company has issued 9 million units of shares worth Rs 90 crore.

Out of the total shares issued to the public, 4 percent or 360,000 units of shares will be allotted to the employees and 5 percent or 450,000 units of shares will be allotted to the mutual investment fund.

Applications for the shares issued by the Madhya Bhotekoshi Hydropower can be submitted by the 25th of Ashoj. If there are not enough applications as per the demand within that period, the deadline will be extended till the 3rd of Kartik.

Investors interested in the Madhya Bhotekoshi Hydropower’s IPO can apply for a minimum of 10 units to 10,000 units at the rate of Rs 100 per lot.

All C-ASBA member banks and financial institutions approved by the Nepal Securities Board, designated branch offices and My Share mobile app can also apply for the Madhya Bhotekoshi Hydropowe’s IPO.

Care Rating Nepal has given CareNP Double B Issuer rating to the IPO issued by the Madhya Bhotekoshi Hydropower company. This indicates an average risk in the company’s ability to meet financial obligations.

The issue and sale manager of the company is Global IME Bank and the guarantor is Citizens Investment Fund.

The Madhya Bhotekoshi Hydropowe is constructing a 102-megawatt Mid-Motekoshi Hydropower Project based on Run of River in Savik (Barhabise Municipality 5, Maming VDC (Bhotekoshi Village Municipality)) of Sindhupalchok District.

At present, the company’s paid-up capital is Rs 4.5 billion. The company’s paid-up capital will reach Rs 6 billion after the issuance of shares worth Rs 1.5 billion, including Rs 600 million to the project-affected locals and Rs 900 million to the general public.

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