Mabilung Energy Limited is set to open its first phase of Initial Public Offering (IPO) from Ashar 22 (July 6), targeting local residents of the project area and Nepali migrant workers abroad.
Total IPO units approved by SEBON
The company has received approval from the Securities Board of Nepal (SEBON) to issue 1,890,530 shares at a face value of Rs. 100 per share.
First phase targets locals and migrant workers
In this first phase, the company will issue:
- 385,824 shares to locals affected by the project
- 150,471 shares to Nepalis working abroad with valid labor permits from the Government of Nepal
Who can apply?
Local residents from the following wards can apply:
- Madi Municipality: Wards 7, 8, and 9
- Chainpur Municipality: Wards 2, 3, 7, 8, and 9
Applicants must apply for at least 10 shares and can request up to 50,000 shares.
The last date to apply is Ashar 4 (June 18), which may be extended up to Ashar 19 (July 3) for locals if the issue is not fully subscribed. However, the application period for migrant workers will not be extended.
Where to apply?
Applications can be submitted through:
- Laxmi Sunrise Capital Limited (issue manager)
- Global IME Bank (Chainpur branch)
- Himalayan Bank (Madi branch)
- Laxmi Sunrise Bank (Khadbari branch)
- Project’s powerhouse office
Additionally, applications can be made via banks and financial institutions approved by SEBON (C-ASBA members), their designated branches, or using the Meroshare platform.
Second phase IPO for the general public
Once the first phase concludes, the remaining IPO shares will be offered to the general public in the second phase, according to the company.
