Kathmandu. Mabilung Energy Limited is going to issue an IPO for the general public from August 15. After distributing the IPO issued by the company for the local residents of the project-affected areas and Nepalis in foreign employment, it is now going to issue the IPO for the general public.
The issued capital of the company is Rs 385.82 million. The company had received permission to issue 1,890,530 units of shares worth Rs 189.05 million i.e. 9998 per cent. Out of this, 385,824 units of ordinary shares have been issued for the local residents of the project-affected areas and 150,471 units of ordinary shares representing 10 percent of the shares allocated for the general investors.
The company is issuing 1,354,235 units of shares worth Rs 135,423,500 in the second round. Of these, 30,095 units have been set aside for employees and 75,236 units for mutual funds. General investors can apply for the remaining 1,248,904 units of shares.
Applications can be made for a minimum of 10 units and a maximum of 50,000 units. The issue will be closed at the earliest on August 15 and the late one will be on August 15.
Laxmi Sunrise Capital Limited is the issue manager of the company. Investors can apply through the C-ASBA system from all C-ASBA member banks and financial institutions and their designated branch offices approved by the Securities Board of Nepal.
ICRA Nepal has given the company ICRA NP Issuer Rating Single B+ in the rating for the IPO issue. This indicates that there is an average risk in the company’s ability to bear liabilities.
