Home / Business / IPO for General Public: Madhya Bhotekoshi Jalavidyut Company issuing 90,00,000 units IPO shares from Ashwin 20

IPO for General Public: Madhya Bhotekoshi Jalavidyut Company issuing 90,00,000 units IPO shares from Ashwin 20

Madhya Bhotekoshi Jalavidyut Company Limited will be issuing 90,00,000 units worth Rs 90 crore as Initial Public Offering to the general public from (Ashwin 20-25, 2078). The early closing date of this issue is on Ashwin 25 and if the issue is not fully subscribed till Ashwin 25, then it can be extended up to Kartik 3, 2078.

Out of the offered 90,00,000 units; 4% of the total offered shares to the general public i.e. 3,60,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 4,50,000 units have been set aside for the mutual funds. The remaining 81,90,000 units are for the general public.

Applications can be placed for a minimum of 10 units and a maximum of 10,000 units.

Global IME Capital Limited has been appointed as the issue manager for the IPO issuance.

10% of the company’s issued capital is already issued to the locals and 15% to the general public.

CRNL has assigned ‘CARE-NP IPO Grade 4+’ to the proposed Initial Public Offering (IPO) of Madhya Bhotekoshi Jalavidyut Company Limited (MBJCL). ‘CARE-NP IPO Grade 4+’ indicates Below Average Fundamentals.

Note that the company has already allotted shares to the depositors of Employee Provident Fund and employees of promoter shareholding company in multiple phases.

Madhya Bhotekoshi Jalavidyut Company Ltd. is a public limited company incorporated on July 29, 2010. It is promoted by NEA (a GoN Corporation) and Chilime Hydropower Company Limited (CHCL, 51% subsidiary of NEA) for setting up 102 MW run-of-river, Middle Bhotekoshi Hydroelectric Project in Sindhupalchowk district of Nepal.

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