Molung Hydropower is releasing 22,64,655 Units of IPO Shares from 4 Falgun in its initial public offering (IPO). The Hydropower company has released a notice regarding issuing 22,64,655 units of IPO shares from the 4th of falgun to the general public.
Notice Date: February 16, 2023
However, Hydropower has decided to close the issuing on the 10th of Falgun. In case of insufficient subscription, the company may extend the date of issuing its IPO till the 18th of Falgun 2079. Molung Hydropower Company Limited is now accepting applications for the issuance of 22,64,655 unit shares with a face value of Rs 100 as of today, 4 Falgun 2079. The company wants to raise Rs 22.64 crore after this IPO.
More about Molung Hydropower releasing 22,64,655 Units of IPO Shares from 4 Falgun in its initial public offering (IPO).
5%, or 136,425 units, of the total offered shares, have been allocated to mutual funds, and 2%, or 54,570 units, have been reserved for firm workers. Additionally, 10%, or 272,850 units, of the total 27,28,500 units have already been issued and allotted to Nepalese nationals employed overseas.
The Molung Hydropower has separated its 22,64,655 units of IPO shares to the general public, which will be opened on the 4th of Falgun 2079, which is today, and the closing date is the 10th of falgun 2079. If the general public can’t subscribe to the total units, the closing dates will be extended until the 18th of Falgun.
The general public can purchase the remaining 22,64,655 units. The company’s paid-up capital will be Rs. 80.25 Crores after this IPO. The corporation previously issued twenty-seven thousand eight hundred fifty unit shares to Nepalese employees abroad. Additionally, 8,02,500 unit shares worth Rs. 8.02 crores were distributed to project-affected locals. 56% of the corporation’s shares are held by the promoter owners together.
Sunrise Capital Limited has been identified as the issue manager for the IPO. An application may seek as many as 8000 units, with a minimum request of 10.
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