Manakamana Engineering Hydropower (MEHL) shares listed in NEPSE, What is the Opening Range?

Manakamana Engineering Hydropower (MEHL) has recently made an Initial Public Offering (IPO) of 8,000,000 units of shares, comprising both those owned by company promoters and those made available to the general public and individuals affected by the project, which is now listed on the Nepal Stock Exchange (NEPSE).

Manakamana Engineering Hydropower issued 22,76,620 unit IPO shares of Rs 100 face value to the general public from 28th to 31st Shrawan, 2080. 

Previously, the company had allocated 800,000 unit shares valued at Rs. 8 crores to residents affected by the Dolakha District project. Only 183,380 units, or 22.92% of these shares, were allotted to eligible applicants. Consequently, the remaining 616,620 units of unsubscribed shares for project-affected locals were combined with 2,000,000 units (which constitute 25% of the total issued capital and are reserved for the general public), resulting in a total of 2,616,620 units available to the general public.

Out of this total of 2,616,620 units, 10% (200,000 units) have already been issued and assigned to Nepalese citizens employed abroad, 100,000 units have been earmarked for mutual funds, and 40,000 units have been reserved for company employees. The remaining 2,276,620 units are open for the general public to subscribe to. Following the IPO issuance, the company's paid-up capital will reach Rs. 80 crores.

NEPSE has specified an initial trading range of Rs. 74 to Rs. 222. for the inaugural transactions, and they have also assigned the stock the trading code (MEHL).

Manakamana Engineering Hydropower Limited has received a 'CARE-NP BB (Is)' rating from CARE Ratings Nepal Limited (CRNL). This rating indicates that the company is assessed to carry a moderate level of risk when it comes to meeting its financial obligations on time in Nepal.