Menchhiyam Hydropower Limited IPO has opened to the general public today. Applicant can apply now.
Menchhiyam Hydropower Limited has issued 934,915 unit shares of Rs 100 face value from Baisakh 4, 2080. The company aims to collect Rs 9.34 crore from this IPO. The IPO closing date is on Baisakh 7 and if the IPO is not fully subscribed, it will be extended up to Baisakh 19, 2080.
The company issued 542,583 unit shares worth Rs. 5.42 crores to the project-affected locals of Sankhuwasabha District. And 505,780 units were allotted to valid applicants. The remaining 36,803 units of unsubscribed shares of project-affected locals are added to 10,85,167 units to make a total of 11,21,970 units for the general public.
Menchhiyam Hydropower Limited IPO
According to Menchhiyam Hydropower Limited IPO notice, out of the total 11,21,970 units; 108,517 units have already been issued and allotted to Nepalese citizens working abroad, A total of 56,099 units have been reserved for the mutual funds, and a total of 22,439 units have been reserved for employees of the company. And the remaining 934,915 units are open to the general public.
The company has 70% of its shares from the promoter. NIC Asia Capital Limited is the issue manager for the IPO. Applicants shall be placed for a minimum of 10 units and a maximum of 10,000 units. But applying 10 units is enough for this IPO.
CARE Ratings Nepal Limited (CRNL) gives the rating of ‘CARE-NP BB (Is)’ assigned to Menchhiyam Hydropower Limited. This rating is indicated to offer a moderate risk of default regarding the timely servicing of financial obligations if required.
Menchhiyam Hydropower Limited was first established as a private limited company on November 8, 2017, and it became a public business on July 15, 2021. By exploiting the existing head and flow from Piluwa Khola (river), the company is involved in setting up a 4.72 MW run-of-river Upper Piluwa Khola-II Small Hydropower Project (UPKHP) in the Sankhuwasabha district of Nepal. Under the BOOT (Build, Own, Operate, and Transfer) method, the project is being built.
How to apply Menchhiyam Hydropower IPO from Mero Share
Are you looking for how to apply Menchhiyam Hydropower IPO from Mero Share ? If yes, here is the steps to apply IPO of Menchhiyam Hydropower IPO.
- Go to official website https://meroshare.cdsc.com.np/
- Select Your DP (Bank or Capital where you open your mero share and CRN account)
- Enter the user name and password,
- Click on login bottom
- Go to my ASBA
- Click on my ASBA
- See the Apply on issue
- Click on the Apply bottom
- Fill in the required information (Select bank account, number of applied shares)
- Enter the CRN number on the same page and click on all information in the current option,
- Then click on apply
- Then write the four-digit security code
- Then submit
- Application was completed; you will see that successfully applied with green color.