Are you a local resident of Sindhupalchowk district? And are you wondering how to apply for the IPO of Madhya Bhotekoshi Jalvidyut Company online, since it didn’t show up in Meroshare? If it is so, this article is for you!
Since it is open for the locals only, the IPO application is not available in Meroshare. Moreover, you might be skeptic to visit the bank or even go outdoors in this lockdown. Well, you do not need to worry about this since you can apply for this IPO online from eSewa. eSewa has added this facility to ease the local investors in applying for the IPO of a company. Just a few months ago, it had introduced integrated DEMAT and Meroshare renewal service in its system as well. If you are a local resident of Sindhupalchowk district, then you are eligible to apply for the IPO of Madhya Bhotekoshi Jalvidyut Company, which has been issued for the locals from today (Baisakh 21, 2078). The earlier closing date is Jestha 02, 2078 and if not subscribed fully, it would be extended to Jestha 20, 2078.
Know about IPO Issue of Madhya Bhotekoshi Jalvidyut Company Limited
Madhya Bhotekoshi Jalvidyut Company Limited (MBJCL) is the company established under the equity investment of Nepal Electricity Authority (NEA) and Chilime Hydropower Company Limited, with a potential electricity production capacity of 102 MW. This project would be handed over to the Government of Nepal after the expiry of generation license, which is 35 years from the date of approval i.e. 2013.
Most of the hydro projects issue IPO to the public and locals to generate enough funds for continuing the operation. Out of the total capital of Rs 6 billions (60 million units of shares), it is issuing 10% i.e. 6 million units for the project affected locals. Out of that, 30% of the 6 million units i.e. 1.8 million units is being issued for the Project affected locals of Sindhupalchowk district and remaining 4.2 million units is being issued for the local residents of that district. The issue manager for this IPO is Global IME Capital Limited. One can apply for the minimum 50 units to the maximum of 400 units with a par value of Rs 100 per share.
Click here to see the prospectus.
How to apply for this IPO through eSewa?
So, here are the simple steps in eSewa to apply for this IPO.
Step 1: Login to your eSewa account on a web browser or mobile app.
Step 2: Scroll down to Popular Services and Tap on the icon of MBJCL-IPO
Step 3: Select the “Yes” option to proceed
Step 4: Enter your details like address, BOID, applied share amount, and others.
Step 5: Select where you would like the refund amount to be deposited, either in the bank or your eSewa account.
Step 6: Click on Proceed
With all this, eSewa has made it convenient to apply for the IPO which is issued for the locals. Since Meroshare only shows apply option of opening issues for the general public and promoters, the local residents and project affected people can apply online through here. We hope this article has guided you well to solve your queries regarding the process to apply for this IPO.