The IPO initiative of Mewa Developers Limited has been included in SEBON’s agenda.
The company has put forward a proposition to the capital market regulator to issue a total of 11,200,000 shares to both local and general investors. This will generate Rs. 1.12 Arba for the firm. The application was submitted on Falgun 09, 2081.
Himalayan Capital Limited has been appointed as the issue manager for this public offering.
CARE Ratings Nepal Limited (CRNL) has reiterated the issuer rating of `CARE-NP BB (Is)тАЩ for Mewa Developers Limited. Entities with this evaluation are perceived to offer a moderate risk of default concerning the punctual servicing of financial obligations in Nepal.
Mewa Developers Limited, which began as a private limited entity on July 8, 2016, transitioned to a public limited company on June 23, 2021. It is backed by individual promoters from diverse backgrounds and institutional investors. MDL operates two hydropower projects: the 73.5 MW (revised from 49 MW), Middle Mewa Hydropower Project (MMHP), and the 9.3 MW Siwa Khola Hydropower Project (SKHP), both of which are run-of-river projects located in Mikhuwa Khola Rural Municipality, Taplejung District of Nepal. These projects are developed under the BOOT (Build, Own, Operate, and Transfer) framework.
