Mabilung Energy Limited is set to open its Initial Public Offering (IPO) for the general public from August 11. The company has already issued shares to locals affected by its project and to Nepalis working abroad.

The company has been permitted to issue 1,890,530 shares, equivalent to 48.9998% of its issued capital worth Rs 385.8 million, totaling Rs 189.05 million in value.

Of these, 30,095 shares have been allocated for company employees and 75,236 shares for mutual funds. The remaining 1,248,904 shares are open to general investors.

Applicants must apply for a minimum of 10 shares and can apply for up to 50,000 shares. The IPO will close on the earliest by August 14 and on the latest by August 25, depending on the subscription status.

The issue has received a rating of [ICRA NP] IPO Grade BB+ from ICRA Nepal, indicating average risk in the company’s ability to meet its financial obligations.

Mabilung Energy is developing the 4.95 MW Upper Piluwa Khola–3 Hydropower Project, which has an estimated total cost of Rs 1.13 billion, with a cost of Rs 229.5 million per megawatt.

Laxmi Sunrise Capital Limited is managing the IPO issuance and sales process.