An offer letter for Maya Khola Hydropower Company Limited’s Initial Public Offering (IPO) to the general public has been issued.

Starting on the 13th of Magh in 2079, the firm would issue 19,92,000 unit shares with a face value of Rs 100. With this IPO, the business hopes to raise Rs 19.92 crore. This issue’s early closing date is on Magh 17, and if it is not completely subscribed, it may be postponed until Magh 27, 2079.

Out of the entire 24,00,000 units, 10%, or 240,000 units, have already been issued and allocated to Nepalese people living and working abroad. 2%, or 48,000 units, have been reserved for firm workers, while 5%, or 120,000 units, of the total offered shares, have been reserved for mutual funds. 19.92,000 of the remaining apartments are for general sale. After the IPO, the company’s paid-up capital will amount to Rs. 1 Arba.

The company has previously given 240,000 unit shares to Nepalese nationals living abroad as well as 10,000 unit shares worth 10 crores of rupees to residents impacted by the project. In all, the promoter owners own 66% of the company’s shares.

The issue manager for the first public offering issuance has been named as Prabhu Capital Limited. A minimum of 10 units and a maximum of 100,000 units may be requested in an application.

ICRA Nepal has confirmed Maya Khola Hydropower Company Limited’s issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP issuer rating double B negative). The prompt servicing of financial obligations is thought to pose a modest risk of default for issuers with this grade.