January 27: Maya Khola Hydropower Company Limited has opened sale of its Initial Public Offering (IPO) to the general public from Friday.

Following the allotment of IPO shares to the project-affected locals and Nepali citizens working in foreign countries, the hydropower has issued IPO shares to the general public in the second phase.

The hydropower company had decided to float 34,00,000 units of shares worth Rs 34,00,00,000 out of its total issued capital of Rs 1,00,00,00,000 to the public.

The company has already issued and allotted 10,00,000 shares  worth Rs 10,00,00,000 to the project-affected locals and a total of 2,40,000 units of shares to Nepali citizens working in foreign countries out of the 34,00,000 units of shares.

The hydropower company has allotted as many as 120,000 units of shares to the mutual funds, while 48,000 units of shares worth Rs 48,00,000 to the company’s employees.

The company is issuing a total of 19,92,000 units of shares to the general public. Interested individuals can apply for a minimum of 10 shares and a maximum of 1,00,000 units of shares.

The IPO Offering will close on January 31. If the IPO is not fully subscribed by then, the deadline will extend till February 10.  Prabhu Capital Limited is issue and sales manager.

Investors can apply for the IPO from issue manager and all banks and financial institutions that are C-ASBA members approved by Securities Board of Nepal (SEBON).

Investors can also apply for the IPO through Mero Share. The company is constructing the hydropower of 14.9 megawatt in Sankhuwasabha. The estimated cost of the hydropower stands at Rs 20.13 crore per megawatt.