Maikhola Hydropower Limited has submitted an application to the Securities Board of Nepal (SEBON) on Ashwin 30, 2079 BS, seeking permission to issue an Initial Public Offering (IPO). The company plans to sell 19,21,568 shares in the IPO at a par value of Rs. 100, which amounts to Rs. 19.21 crores. The IPO is subject to the approval of SEBON.
The company will sell the shares in two phases, firstly to the locals of the project-affected areas, and secondly, to the general public including the employees of the company and mutual fund schemes. Prabhu Capital Limited has been appointed as the issue and sales manager, and an agreement for a public offering has already been signed between the company and Prabhu Capital Limited.
Maikhola Hydropower Company Limited was established on Shrawan 17, 2073 BS and is currently operating a 3 MW Super Mai Cascade Hydropower Project located in Illam District. The construction of this 3 MW project was started on Bhadra 18, 2076 BS and it started commercial electricity production from Ashad 14, 2077 BS. The project generates 18.8 gigawatt hours of electricity annually, which is connected to the Godak substation.
This IPO is an opportunity for the public to invest in a company that is dedicated to generating clean and sustainable energy, and to be a part of the company’s efforts to contribute to the development of the region.