Menchhiyam Hydropower receives SEBON’s approval to issue IPO

Kathmandu; Menchhiyam Hydropower Limited has received approval from the Securities Board of Nepal (SEBON) to issue 1,627,750 units of its initial public offering (IPO).

According to the company, it will be issuing aforementioned units of its equity shares at a par value of Rs 100 per share. In this regard, the company’s primary shares of Rs 162.70 million will be released for the general people. The amount will make 30 percent of the company’s issued capital.  After allotment of the IPOs, its total paid-up capital will be Rs 542.50 million.

Menchhiyam Hydropower has appointed NIC Asia Capital Limited as issue manager for the issuance of the primary shares.

Menchhiyam Hydropower was established on November 8, 2017. The company is moving forward to set up a 4.72 MW run-of-river Upper Piluwa Khola-II Small Hydropower Project in Sankhuwasabha district. The project is being constructed under BOOT (Build, own, Operate, and Transfer) model.