Makar Jitumaya Suri Hydropower has announced that SEBON has finally accepted the IPO proposal’s approval.
Notice Date: Jan 11, 2023
The Securities Exchange Board of Nepal has approved Makar Jitumaya Suri Hydropower Ltd.’s proposed initial public offering (IPO) for Poush 7, 2079. (SEBON).
More about Makar Jitumaya Suri Hydropower IPO Proposal was finally approved.
Makar Jitumaya Suri Hydropower Ltd (MAKAR) will issue 2,280,000 equity shares with a par value of NPR 100 each. The issue has a value of Rs. 22.8 billion. This amounts to 30% of the corporation’s total outstanding capital. The company’s total paid-up capital will be Rs 76 crore after the IPO allocation. The company selected Prabhu Capital Limited to handle this initial public offering issue management (IPO).
Makar Jitumaya Suri Hydropower IPO
The Suri Khola Hydropower Limited and MJHPL merged on July 15, 2021, and Makar (MJSHL) was created as a result. (SKHL). The united firm is presently engaged in two hydroelectric projects, the 6.4 MW run-of-river Suri Khola Hydropower Project (SKHP) and the 7 MW Upper Suri Hydropower Project located in Nepal’s Dolakha area (USKHP). CARE Ratings Nepal Limited (CRNL) has assigned Makar Jitumaya Suri Hydropower Limited’s long-term bank facilities a rating of “CARE-NP BB [Double B]” (MJSHL).
On Baisakh 8, 2079 BS, the corporation requested permission from the board in an application for the public issue. The corporation can only offer shares to the public with the regulatory authority SEBON’s approval.
Makar Jitumaya Suri Hydropower will issue 30% of the total issued capital to raise money. The corporation would offer 22,80 lakh shares to the general public in two phases. The business would give 7,60,000 shares to people in the project’s affected areas and Nepalese working abroad during the initial public offering (IPO) round. Similarly, during the second round, the company will offer 15,20,000 shares to the general public.
The company has already chosen Prabhu Capital to oversee the IPO’s issue and sales. An agreement for the IPO issue and sale had been signed jointly by the company’s chief executive officer, Himal Gurung, and Prabhu Capital’s managing director, Dinesh Thakali.
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