Upcoming IPO - Madhya Bhotekoshi Jalvidyut Company Limited

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Madhya Bhotekoshi Jalvidyut Company Limited

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Madhya Bhotekoshi Jalvidyut Company Limited has received approval from the regulatory body SEBON to issue its IPO.

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.

The 1,50,00,000 shares to be issued to the public and the locals in the upcoming IPO will make up for 25% of the company's issued capital. Specifically, 10% of the company's issued capital will be issued to the locals and 15% to the general public.

Global IME Capital is appointed the issue manager for the IPO. SEBON granted approval for the issue today, i.e. Baisakh 05, 2078.

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.

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