Madhya Bhotekoshi Jalvidyut Company to float IPO worth Rs 900 million on October 6

Published On: September 30, 2021 06:30 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Sept 30: Madhya Bhotekoshi Jalvidyut Company Limited (MBJCL) will be issuing nine million units of its primary shares on October 6.

According to the company, it is issuing the initial public offering (IPO) worth Rs 900 million on the next Wednesday. Of the total amount of shares to be issued, four percent will be allotted for the company’s employees, five percent for mutual investment funds and the remaining 8.19 million units will be opened for the general public.

An individual can apply for a minimum of 10 units to a maximum at 10,000 units of shares at the rate of Rs 100 per share. The issuance will be closed on October 11 at the earliest.

The MBJCL has appointed Global IME Capital as the issue manager to float the company’s IPOs. The hydropower company has been constructing a 102 MW power project in the Bhotekoshi River of Sindhupalchok district. The estimated cost of the project is Rs 16.97 billion while per megawatt cost is projected at Rs 166.4 million.

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