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Mandakini Hydropower Limited IPO Date for Local of Project Affected Areas

News 06 Jun 2022 1131 0

Initial Public Offering IPO

Mandakini Hydropower Limited is going to open an IPO issue and sale from 2079 Ashad 1. The company is planning to issue an IPO for the residents of the project-affected areas.

The company is going to issue 588,3700 ordinary shares with a face value of Rs 100 per share, which is 10 percent of the issued capital of Rs 588.03 million. The project affected areas i.e. Machhapuchhre Rural Municipality ward no. 2, 3, 4, and 6 (Residents of previous Sardikhola VDC, Ghachok VDC, Gahachok VDC, and Dhital VDC can apply.)

The eviction will be on the 15th of Ashad at the earliest and on the 30th of Ashad at the latest. Applications for the IPO can be submitted from the Registrar's Office of Mandakini Hydropower, Sinamangal, Kathmandu, Lahachok Branch of Pokhara Finance, Hemja Branch of NMB Bank, and Lamachaur Branch Office of Prime Commercial Bank. In addition, applications can be submitted from all C-ASWA member banks and financial institutions and their branch offices approved by the Nepal Securities Board.

The issue and sale manager of the company is BOK Capital Limited. Investors will have to apply for a minimum of 10 units of shares and a maximum of 10,000 units.

Care Rating Nepal has given CareNP BB+ IS rating to the company in the rating given for the IPO issue. This indicates a moderate risk in the company's ability to bear responsibility.