Mount Everest Power Development Limited has completed the IPO allotment process for project-affected locals of Solukhumbu District on 20th Jestha, 2083. The allotment is part of the company’s public issue structure, which allocates shares to local residents, Nepalese citizens working abroad, and the general public.
The company has an issued capital of Rs. 86 crore, of which 30% (25,80,000 units) has been allocated for public issuance. Out of this, 10% (8,60,000 units worth Rs. 8.60 crore) was reserved for project-affected locals of Solukhumbu, while the remaining 20% (17,20,000 units) is for the general public. From the general public allocation, 10% (1,72,000 units) was reserved for Nepali citizens working abroad.
The issue received strong participation, with 11,809 valid applications for 3,41,080 units, while 61 applications were disqualified for 16,610 units.
Under the allotment process, shares were distributed based on applicant categories and demand levels. Severely affected applicants applying for 10 to 150 units were fully allotted their requested shares, while larger applicants received partial allocations as per the allotment module. Similarly, applicants under the affected category also received a mix of proportional and minimum allotments based on demand levels.
NIMB Capital Limited acted as the issue manager for the IPO. The project-affected locals were allowed to apply for a minimum of 10 units and a maximum of 10,000 units. Additionally, CARE Ratings Nepal Limited reaffirmed the company’s credit rating at ‘CARE-NP BB+’ for long-term facilities and ‘CARE-NP A4+’ for short-term facilities, indicating moderate credit risk.
The company operates the 12 MW Dudhkunda Khola Hydroelectric Project in Solukhumbu under the BOOT model, which began commercial operation on July 31, 2024.
IPO Allotment Summary
| Category | Details |
|---|---|
| Company | Mount Everest Power Development Limited |
| Event | IPO allotment (Project-Affected Locals) |
| District | Solukhumbu |
| Issued Capital | Rs. 86 crore |
| Public Issue Portion | 30% (25,80,000 units) |
| Reserved for Locals | 8,60,000 units (10%) |
| General Public Issue | 17,20,000 units (20%) |
| Foreign Employment Quota | 1,72,000 units (10% of general public issue) |
| Total Valid Applications | 11,809 |
| Total Applied Units | 3,41,080 |
| Disqualified Applications | 61 |
| Issue Manager | NIMB Capital Limited |
| Project Type | 12 MW Dudhkunda Khola Hydropower Project |
| Operation Model | BOOT (Build, Own, Operate and Transfer) |
| Credit Rating | CARE-NP BB+ (long-term), CARE-NP A4+ (short-term) |
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