Maya Khola Hydropower Company Ltd has published a notice regarding the closing of IPO to Nepalese working abroad: Extension of the deadline for locals impacted by the project till Poush 24.
Notice Date: January 2, 2023
To Nepalese citizens employed abroad, Maya Khola Hydropower Company Limited will close its first public offering (IPO). According to the company, those impacted by the project now have until 24 Poush 2079 to submit their applications. The business opened its IPO on Mangsir 23rd, 2079.
The Maya Khola Hydropower Company Ltd.
Residents of the Sankhuwasabha District who the project will harm received 10% of the company’s Rs. 1 Arba in issued capital, or 10,000 unit shares worth Rs. 10 crores. 24% of the company’s existing capital, or 24,00,000 unit shares, will be made later on access to the general public. In this public offering, 2,40,000 shares, or 10% of the total 2,40,000 shares, are designated for Nepalese nationals employed abroad.
The promoter-public ratio will be 66:34 following this IPO. The Company’s issue manager is Prabhu Capital Limited. The project’s impacted areas’ minimum and maximum application volumes are 10 and 100,000 units, respectively. For Nepalese nationals working abroad, the minimum and maximum application amounts are 10 and 50,000, respectively.
According to CDSC, 8251 applications from Nepalese nationals working abroad have been received for 720,820 units. As a result, there has been a 3.003-time oversubscription for this issue thus far. The issuer rating of [ICRANP-IR] BB- for Maya Khola Hydropower Company Limited has been certified by ICRA Nepal (pronounced ICRA NP issuer rating double B negative). The timely servicing of financial commitments is typically thought to represent a minimal default risk for issuers with this grade.
1. Prime Commercial Bank Limited, Khandbari, Sabhapokhari Branch Sankhuwasabha.
2. Prabhu Bank Limited, Khandbari Branch Sankhuwasabha.
3. Nepal SBI Bank Limited, Dharmadebi Branch.
4. Global IME Bank Limited, Chainpur, Khandbari, Bhotkhola Branch Sankhuwasabha.
5. Maya Khola Hydropower Company Limited Project Office, Sankhuwasabha.
6. Himalayan Bank Limited, Madi Branch, Sankhuwasabha.
7. Kamaladi of Prabhu Capital Limited and online developed by this capital
They can apply by visiting the link https://ipoapply.prabhucapital.com.
Residents of the project-affected areas will have to pay a fee of Rs.2/- (two rupees) for the application form to receive the share purchase application.
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