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Wednesday, October 20, 2021
    Nepal Stock ExchangeIPO | FPO NewsThe initial public offering (IPO) of Madhya Jalavidyut Company was oversubscribed...

    The initial public offering (IPO) of Madhya Jalavidyut Company was oversubscribed by 2.88 times 

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    Ashwin 20 Capital has announced an initial public offering (IPO) for 90,00,000 unit shares priced at Rs 90 crore by Madhya Jalavidyut Company Limited. On Ashwin 25, the of Ashwin, the issue will be concluded early. The issue will be closed early due to the fact that it has already surpassed its maximum subscription level.

    According to the company, 4% of the total offered shares to the general public, or 3,60,000 units, have been put aside for company personnel, and 5% of the total offered shares to the general public, or 4,50,000 units, have been set aside for mutual funds, out of the total 90,00,000 units offered. The remaining 81,90,000 units are designated for general consumption.

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    The issue manager for the initial public offering has been named as International Money & Capital Limited (IPO). According to the problem manager, 1,562,180 people have for a total of 23,592,290 units that are up for grabs. As a result, on the second day of distribution, the issue was already 2.88 times oversubscribed.

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

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    It should be mentioned that the company has already allocated shares to employees/members of the Employee Provident Fund and promoter shareholding company personnel in a series of phases. The locals’ problem has been fixed as well. As a result, applicants who have been assigned shares in any of the aforementioned issues will be able to apply for the public IPO. If candidates are found to have done so, their applications will be immediately rejected.

    Madhya Bhotekoshi Jalavidyut Company Ltd. is a public limited company based in Madhya Pradesh, India. It was founded on July 29, 2010. It will be used to a 102 MW run-of-river hydroelectric project in Nepal’s Sindhupalchowk district by Nepal Electricity Authority (NEA), a government-owned business, and Chilime Hydropower Company Limited (CHCL), a 51 percent subsidiary of NEA.

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