The IPO allotment for Project-Affected Locals of Solukhumbhu District by Mount Everest Power Development Limited was concluded today, 20th Jestha, 2083.
The company’s issued capital is Rs. 86 Crores. Of this, 30%, i.e., 25,80,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, amounting to 8,60,000 unit shares valued at Rs. 8.60 Crores, was allocated to project-affected locals in Solukhumbu District. The remaining 20% of the issued capital, i.e., 17,20,000 unit shares, will be offered to the general public. Of this general public issue, 10% of 17,20,000, a total of 1,72,000 units, were allotted to Nepalese citizens working abroad.
The issue received a total of 11,809 valid applications for 3,41,080 units. Meanwhile, 61 applications for 16,610 units were disqualified.
As per the allotment module, 533 applicants under the severely affected category who had applied for 10 to 150 kitta were allotted shares as requested, amounting to 54,580 units. Likewise, 1,910 applicants seeking 160 to 3,000 kitta each received 150 units, totalling 2,86,500 units, while an additional 292 applicants in the same category were allotted 10 units each.
Similarly, in the affected category, 5,073 applicants applying for 10 to 60 kitta received shares according to their demand, totalling 2,40,650 units. Another 4,293 applicants who had applied for 70 to 2,000 kitta each were allotted 60 units, amounting to 257,580 units each. Under the affected category, 1,777 applicants were allotted 10 units each, according to the allotment module.
Allotment Module:
NIMB Capital Limited has been appointed the issue manager for the public offering. For project-affected locals, the minimum application quantity is 10 units, and the maximum is 10,000 units.
CARE Ratings Nepal Limited (CRNL) has reaffirmed Mount Everest Power Development Limited’s issuer and long-term bank facility rating at ‘CARE-NP BB+’, indicating a moderate risk of default, and has assigned a ‘CARE-NP A4+’ rating to its short-term bank facilities.
Mount Everest Power Development Limited (MEPDL), a public limited company incorporated on November 16, 2014, has been operating the 12 MW run-of-river Dudhkunda Khola Hydroelectric Project in Solukhumbu district since July 31, 2024. The project has been developed under the BOOT (Build, Own, Operate and Transfer) model.
