Molung Hydropower Company Limited has scheduled its 12th Annual General Meeting for the 12th of Kartik, 2078. The meeting will take place at the company’s registered office at Ravi Bhavan, Kathmandu, and will begin at 11 a.m. on the scheduled date and time.
- First, the annual report for Fiscal Year 1977/1978 needs to be approved by the Board of Directors.
- Endorsement of financial reports till the end of the Ashar calendar year 2078
- Appointment of an auditor for the fiscal year 2078/79, as well as approval of the auditor’s compensation
The company has submitted an application to SEBON in order to launch its initial public offering (IPO). The issue of conducting an initial public offering (IPO) was considered during the Molung Hydropower Company Limited’s 11th Annual General Meeting, which took place on the 6th of Falgun, 2077. If the request is approved by the regulator, a total of 35,31,000 unit shares will be issued. ICRA Nepal has granted the Molung Hydropower Company Limited an issuer rating of [ICRANP-IR] BB (called ICRA NP issuer rating double B) based on its financial strength. The issue manager has been appointed by the SEC to be Sunrise Capital.
Molung Hydroelectric Company Limited, a public limited company created on November 28, 2019, with the objectives of investing in and developing a hydropower project, was established on November 28, 2019, as a public limited company. The firm is currently running a 7MW Molung Khola hydropower plant in the Okhaldhunga area of Nepal’s Province 1. The project is of the run-of-the-river (R-o-R) variety, and it has been designed with a 40 percent likelihood of exceeding expectations (Q40). The project was commissioned on March 26, 2018, which was a month before the required completion date of April 2018, which was April 2018. Similarly, the project was created at a total project cost of NPR 207 million, with a debt-to-equity ratio (D: E) of about 69:31, at an approximate debt-to-equity ratio (D: E) of 69:31.