From Falgun 10th, Molung Hydropower has stopped selling its 22,64,655 IPO units to the general public. The company is ending its IPO shares to the general public, which was started on a Fourth of falgun with a face value of Rs 100.
Notice Date: February 25, 2023
Molung Hydropower Company Ltd. is ending its offer to sell 22,64,655 unit shares with a face value of Rs. 100 on 10 Falgun 2079. The IPO sharing was first issued on the fourth Falgun. The company wants to raise Rs 22.64 crore through this IPO. Sunrise Capital Ltd. is the IPO issuance’s issue manager. With an application, a minimum of 10 units and a maximum of 8000 units may be requested.
More About Molung Hydropower has stopped selling its 22,64,655 IPO units to the general public.
A total of 27,28,500 units, 10%, or 272,850 units, have already been allotted to Nepalese nationals employed overseas. Moreover, 5%, or 136,425 units, of the total offered shares have been issued to mutual funds, and 2%, or 54,570 units, have been reserved for firm workers. The general public may purchase the remaining 22,64,655 units. The company’s paid-up capital will total Rs. 80.25 Crores after the IPO.
The company earlier distributed 8,02,500 unit shares worth Rs. 8.02 crores to locals and 27,850 unit shares to Nepali citizens working overseas. The promoters own 56% of the total shares of the company. From 1,28,59,050 units, 11,44,129 applicants have filed applications to CDSC. As a result, the offer was already 5.67 times oversubscribed as of February 20. (5 pm).
About the Company:- Molung Hydropower
In Nepal’s Sagarmatha Zone, Eastern Development Area, Okhaldhunga district is home to the Molung Khola hydropower project. The project area spans the Okhaldhunga district’s Harkapur, Prapcha, and Baruneshwar VDCs.
On Baishakh 31, 2067, Molung Hydropower Company Ltd. was established (May 14, 2010). On September 20, 2019, Molung Hydropower Company Pvt. Ltd. obtained a generation license from the Ministry of Energy of Nepal.
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