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Madhya Bhotekoshi Jalavidyut Company IPO

Madhya Bhotekoshi Jalavidyut Company IPO
Madhya Bhotekoshi Jalavidyut Company: Is it possible to apply for an IPO with locals? What about promoter company employees and EPF employees/members?

An initial public offering for 90,000 shares worth Rs 90 crore has been opened by Madhya Bhotekoshi Jalavidyut Company Limited today, on Ashwin 20. Closing is scheduled for Ashwin 25. The deadline can be extended up to Kartik 3, 2078, if the issue is not fully subscribed by Ashwin 25.

A total of 90,00,000 shares have been offered to the general public, of which 4% of the total shares have been set aside for employees of the company and 5%, or 4,50,000 shares, for mutual funds. The remaining 81,90,000 units will be available to the general public.

Note that the company has already distributed shares to employees/participants in Employee Provident Funds as well as employees of promoters shareholding company in multiple phases. Additionally, shares have been allocated to local employees. As a result, applicants assigned shares in any of those issues are ineligible to apply for the public IPO. The application will automatically be nullified if such applicants are found to be doing so.

The IPO issue manager is Global IME Capital Limited. Minimum and maximum applications are available for 10 and 10,000 units, respectively.

Founded on July 29, 2010, Madhya Bhotekoshi Jalavidyut Company is a public limited company. In Nepal, it is being promoted by NEA (a government-owned corporation) and Chilime Hydropower Company Limited (CHCL, 51% of NEA) to set up 102 MW of run-of-river hydroelectricity in the Middle Bhotekoshi River.

What is the number of applications so far for an IPO for the Madhya Bhotekoshi Jalavidyut Company?

IPO actions for Madhya Bhotekoshi in Sindhupalchowk district, which was earlier suspended on Baisakh 25, 2078, have resumed on Shrawan 5, 2078.

Applicants in the Sindhupalchowk district will have the ability to apply for up to 400 units in the issue of 60 lakh ordinary shares by Shrawan 17 at the earliest.

A total of 16,47,761 units have been applied for by 7,586 applicants, according to the issue manager Global IME Capital. As of Shrawan 07, this is the data.

Among the 32 collection centers in the Sindhupalchowk district and seven in Kathmandu, the hydropower company has provided investors with options to submit their applications and cheques via ASBA member BFIs as well as through eSewa and IME Pay services.

Madhya Bhotekoshi Jalavidyut Company construction

Further, the company’s Naxal office, which is managed by Global IME Capital, will remain open from 10 am to 10 pm. Thus, locals can still submit applications even on weekends.

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