The Molung Hydropower Company will begin issuing 22,64,655 units of IPO shares to the general public on Falgun 4th. The Molung Hydropower Company recently distributed its IPO shares to the project-affected people, and the Nepalese Nationals are working overseas.
Notice Date: February 13, 2023
ICRA Nepal has updated the issuer rating of Molung Hydropower Company Limited to [ICRANP-IR] BB (pronounced ICRA NP issuer rating double B). For issuers with this grade, there is a slight risk of default due to the rapid servicing of financial obligations.
More about The Molung Hydropower Company will begin issuing 22,64,655 units of IPO shares to the general public on Falgun 4th
The Molung Hydropower Company has issued a letter about publishing an initial public offering to the general public. The hydropower will issue 22,64,655 unit shares with a face value of Rs 100 beginning on the fourth of Falgun in 2079. The company wants to raise Rs 22.64 crore through this IPO. Falgun 10 is the early close date for this issue; if it is not fully subscribed, it may be extended until Falgun 18, 2079.
The company earlier gave away 8,02,500 unit shares worth Rs. 8.02 crores to locals affected by the project and 27,850 unit shares to Nepalese nationals working overseas. The promoter owners collectively hold 56% of the company’s shares. Sunrise Capital Ltd. is the IPO’s issuing manager. An application may request a minimum of 10 units and a maximum of 8000 units.
10%, or 272,850 units, of the total 27,28,500 units have already been issued and allotted to Nepalese nationals employed overseas. Additionally, of the total offered shares, 5%, or 136,425 units, have been designated for mutual funds, and 2%, or 54,570 units, have been set aside for firm workers. The remaining 22,64,655 units will be available for purchase by the general public. The company’s paid-up capital would total Rs. 80.25 Crores after the IPO.
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