Last day to apply for IPO of Molung Hydropower

Jan 29, 2023 09:33 AM Merolagani

Today is the last day to apply for initial public offering (IPO) of Molung Hydropower.

The company is issuing 10 percent ordinary shares of its issued capital worth Rs 802.5 million to the locals from January 3.  Based on this, a total of 802,500 units of shares worth Rs 80.2 million is being issued to the locals.

Out of the total offered units to locals of affected area,  5 percent has been allocated to Molung RuralMunicipality of Okhaldhunga Distrist and 5 percent to Sunkoshi Rural Municipality and Siddhicharan Municipality.

The interested investors can apply for a minimum of 10 and maximum of 8,000 units.

ICRA Nepal has assigned BB- rating to the issue indicating moderate risks.

The company has appointed Sunrise Capital as its issue manager. The local investors can apply from designated branches of Sunrise Bank, Machhapuchchhre Bank, Muktinath Bikas Bank, Kumari Bank and Laxmi Bank. Moreover, they can apply from all C-ASBA approved BFIs. 

Molung Hydropower is developing 7 MW hydropower Project. The per MW cost of the project is Rs 208 million while the total cost of the project is Rs 1.45 billion. The payback period of the project is 8.1 years whereas the discounted payback period is 19.5 years.

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