Last day to apply for IPO of Mai Khola Hydropower

Mar 23, 2023 09:29 AM Merolagani

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

The company is issuing 10 percent shares of its issue capital worth Rs Rs 392.1 million from March 9 to the locals of the affected areas and foreign migrated workers of Nepal.

Accordingly, it will issue 392,157 units of shares worth Rs 39.2 million to the locals of the affected area of Illam.

Moreover, the company will issue 152,941 units i.e. 10 percent of general public quota to foreign migrated workers.

Interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares for locals of affected area and 50,000 to foreign migrated workers. 

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

The company has appointed Prabhu Capital as issue manager. The interested locals of affected area can apply from the project area, designated branches of Prabhu Bank, Century Bank, Prime Commercial Bank as well as C-ASBA approved BFIs. They can also apply from online medium of Prabhu Captial by paying Rs 2 per form. The interested foreign migrated workers can apply from all ASBA approved BFIs.

The company is developing 3MW Supermai Cascade Hydropower Project will total estimated cost of Rs 611.3 million and per MW cost of Rs 203.7 million. The payback period of the project is 10.01 years and discounted payback period is 20.74 years. Its license will end in 30 years 6 months.

 

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