Mabilung Energy Limited has launched the first phase of its IPO from Asar 22, offering over 5.36 lakh shares to project-affected locals and Nepalis working abroad.
Mabilung Energy Limited has opened its first-phase Initial Public Offering (IPO) to the public from Asar 22. The company has received approval from the Nepal Securities Board to issue a total of 18,90,530 shares at a face value of Rs. 100 per share.
In this phase, 385,824 shares have been allocated for project-affected local residents, and 150,471 shares have been reserved for Nepali citizens currently employed abroad with valid labor permits.
Eligible applicants from the project-affected areas include residents of Wards 7, 8, and 9 of Madi Municipality and Wards 2, 3, 7, 8, and 9 of Chainpur Municipality in Sankhuwasabha District. Interested individuals can apply for a minimum of 10 and a maximum of 50,000 shares. The last date to submit applications is Shrawan 4, although the deadline may be extended to Shrawan 19 if the required number of applications is not received from the project-affected group. However, the application deadline for the migrant worker category will not be extended.
Laxmi Sunrise Capital Limited is managing the IPO issuance. Applications can also be submitted from the Chainpur branch of Global IME Bank, the Madi branch of Himalayan Bank, the Khandbari branch of Laxmi Sunrise Bank, and the company’s powerhouse office. Additionally, investors may apply online through the ‘Mero Share’ portal or via C-ASBA-approved banks and financial institutions and their branches authorized by the Nepal Securities Board.
This article was originally published on https://bajarkochirfar.com Translated with the help of AI and reviewed by our editorial team.
