Mandu Hydropower to Issue IPO From Sunday.

                                    Mandu Hydropower to Issue IPO From Sunday.

Mandu Hydropower Limited is going to issue an IPO to the general public from Sunday.

In the first phase, the company has already sold and distributed the IPO to the project-affected locals and Nepalese who are employed abroad, and now it is going to sell the second phase of the IPO. In the first phase, the company is going to sell the 79 thousand 30 shares that could not be sold to the affected locals through an IPO.

The company got permission from the Nepal Securities Board for the IPO sale of 16 lakh 36 thousand 370 shares at a face value of Rs. 100 per share with a premium of Rs 106 . The company has distributed IPO 1 lakh 93 thousand 700 shares to project-affected locals and 1 lakh 36 thousand 364 shares to Nepalis working abroad.

Out of the remaining IPO, 28 thousand 853 shares will be distributed to the employees of the company and 72 thousand 133 shares will be distributed to collective investment funds and 12 lakh 5 thousand 320 shares of IPO will be brought to the public issue.

This IPO sale period has been set for 13th of Bhadra at the earliest, if the application is not received within that period, the sale will be extended until 24th of Bhadra . However, recently, when the IPO is released to the general public, there are more applications than the demand on the first day. If this situation repeats, the company’s IPO will also be on sale until the 13th of Bhadra .

Investors can demand from a minimum of 10 shares to a maximum of 50,000 shares. Prabhu Capital Limited will fulfill the responsibility of the IPO sales manager.

Application can also be made through the sales manager and all banks and financial institutions participating in ASBA service and their designated offices. Also, there is an arrangement that you can apply through my shares.

In the rating done for the IPO issuance, Ekra Nepal Limited has given Ekra NP Issuer Triple B Minus rating, which is considered a medium-level safe company capable of meeting financial obligations on time.

The company has constructed a 22 MW Bagmati small hydropower project in Makwanpur. From this project, commercial production has started from Chait 19, 2075. The total construction cost of the project is 4 billion 194 million 37 thousand rupees, while the average cost of the project is 180 million 27 million rupees.

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