Bhujung Hydropower Limited has opened applications for its Initial Public Offering (IPO) to the general public from today. In this phase, the company has issued a total of 830,000 ordinary shares for public subscription.
Out of the total shares, 50,000 units have been reserved for mutual funds and 20,000 units for company employees. The remaining shares are available for general investors. Applicants can apply for a minimum of 10 shares and a maximum of 50,000 shares.
Applications can be submitted through ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON) and their designated branches. Investors can also apply online through the “Mero Share” system.
According to the company, the IPO will close as early as Magh 15 and no later than Magh 26. Kumari Capital Limited is serving as the issue and sales manager for the IPO.
Earlier, on Mangsir 11, the company received approval from SEBON to issue 2 million ordinary shares worth Rs 200 million. Under the same approval, the company had issued shares in the first phase from Poush 3 for project-affected local residents and Nepali citizens working abroad.
Following the allotment of the first phase, the company has now issued shares to the general public under the second phase.
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