Mabilung Energy to Open IPO for Locals and Migrant Workers from Asar 22

Mabilung Energy is set to open its Initial Public Offering (IPO) from Asar 22. In the first phase, the company will issue shares specifically for Nepalis working abroad and locals affected by the project.

The company plans to issue a total of 18,90,530 shares at a face value of Rs 100 per share to the general public, which makes up 48.99% of its total capital of about Rs 38.58 crore.

According to Laxmi Sunrise Capital, the issue manager, 3,85,824 shares will be allocated for project-affected locals, and 1,50,471 shares for foreign-employed Nepalis.

Locals from Sankhuwasabha district, specifically from wards 7, 8, 9 of Madi Municipality and wards 2, 3, 7, 8, 9 of Chainpur Municipality, are eligible to apply. They can apply from Asar 22 to either Shrawan 4 (earliest) or Shrawan 19 (latest). Meanwhile, migrant workers can apply until Shrawan 4.

Both groups can apply for a minimum of 10 shares and a maximum of 50,000 shares.

The company has developed the Upper Piluwa Khola-3 hydropower project, which has a capacity of 4.95 megawatts. The cost per megawatt is estimated at Rs 22.95 crore.

As per the unaudited financial report till the end of Chaitra, the company has a net worth per share of Rs 106.95 and an earnings per share (EPS) of Rs 1.05.