The Maya Khola Hydropower Company’s IPO for Sankhuwasabha District Residents Affected by the Project Closes Today. The company released a notice regarding the company no longer accepting applications from residents in Sankhuwasabha District impacted by the project from Poush 18.
Notice Date: Jan 15, 2023
Residents of the Sankhuwasabha District affected by the project will have received 10,000 shares, or 10% of the company’s issued capital, valued at Rs. 10 crores. The issue started on March 23, 2079. (Mangsir).
More about The Maya Khola Hydropower Company’s IPO for Residents Affected by the Project in Sankhuwasabha District Closes from Poush 18.
The minimum application quantities are 10 and 100,000 units for the project’s impacted areas, respectively. 24% of the company’s outstanding capital and subsequent public issuance of 24,00,000 unit shares will occur.
Moreover, 2,40,000 units or 10% of shares, were reserved for Nepalese nationals working overseas. The promoter-public ratio will be 66:34 after this IPO.
Maya Khola Hydropower Company Limited’s issuer was confirmed by the ICRA Nepal rating of [ICRANP-IR] BB- (pronounced ICRA NP issuer rating double B negative). However, the issuers with this grade will get the quick servicing of financial obligations to offer a minimal default risk. The time for Nepalese nationals working overseas to file an IPO also expires on Poush 08.
The company had extended the time for the residents affected by the project’s IPO to the 24th of Poush in 2079, but the issues were oversubscribed. This is why the business intends to terminate the deadline on Poush 8.
The Maya Khola Hydropower Company (About the company)
The Maya Khola Hydropower Company Ltd is located in the Sankhuwasabha district of Nepal’s Province No.1 and is constructing the 14.9 MW Maya Khola HEP. The company develop a project of the run-of-the-river” (R-o-R) type with a 40% probability of exceeding its objectives.
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