Today, Magh 15, is the final day to apply for the initial public offering (IPO) of Bhujung Hydropower Limited.
The company had opened its IPO for the general public from Magh 12. It received approval to issue 20 percent of its issued capital of Rs 1 billion, amounting to Rs 200 million or 2 million shares. Out of this, 1 million shares were allocated to local residents of the project-affected areas and 100,000 shares were issued to Nepalis employed abroad, for which allotment has already been completed.
In the second phase, the company has reserved 20,000 shares for employees and 50,000 shares for mutual funds. The remaining shares worth Rs 83 million, totaling 830,000 shares, have been issued to the general public.
Investors are required to apply for a minimum of 10 shares and can apply for a maximum of up to 50,000 shares.
For the IPO, ICRA Nepal has assigned the company an ICRA NP Issuer Rating of Single B Plus, indicating a high level of risk in the company’s ability to meet its financial obligations.
Kumari Capital Limited is the issue and sales manager for the IPO.
Investors can apply through the C-ASBA system via all banks and financial institutions approved by the Securities Board of Nepal, along with their designated branch offices.
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