Beni Hydropower Project Limited is set to issue its Initial Public Offering (IPO) starting Chaitra 1. The IPO will be available to local residents of the project-affected areas and Nepali citizens working abroad.
On Magh 29, the company received approval from the Nepal Securities Board to issue 20 percent of its authorized capital of NPR 104 crore, amounting to NPR 20.8 crore, through 208,000 shares with a face value of NPR 100 each. Of the total shares to be issued, 10 percent (NPR 10.4 crore or 104,000 shares) has been allocated for residents of project-affected areas.
The allocation for local residents will be as follows:
- Permanent residents of highly affected wards 2, 3, and 4 of Solududhkunda Municipality: 52,000 shares (50%)
- Residents of affected wards 5, 6, 7, and 11: 31,200 shares (30%)
- Other permanent residents in the region: 20,800 shares (20%)
After allocating shares to locals, 104,000 shares will be available to the general public, of which 14,000 shares have been reserved for Nepali citizens working abroad. If the shares reserved for local residents and overseas workers are not fully subscribed, the remaining shares will be adjusted and issued to the general public.
Residents of project-affected areas and Nepali citizens abroad can apply for a minimum of 10 shares and a maximum of 10,000 shares.
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