The Nepal Securities Board (SEBON) has granted approval to Bhujung Hydropower Limited to issue an Initial Public Offering (IPO) to the public. SEBON has authorized the company to issue 2 million shares at a face value of NPR 100 per unit.
The IPO will be open to the general public, including project-affected local residents. Kumari Capital Limited has been appointed as the issue and sales manager for the IPO. Currently, the promoter group holds 80 percent ownership in Bhujung Hydropower. Following the IPO issuance, the company’s paid-up capital will increase from NPR 800 million to NPR 1 billion.
Bhujung Hydropower has already completed the construction of the 7.5-megawatt Upper Midim Hydropower Project in Lamjung district. According to the company, the project has been in commercial operation since 6 Baisakh 2081.
The company had obtained its electricity generation license on 26 Bhadra 2076, which remains valid until 25 Bhadra 2111. With the upcoming IPO issuance, the company expects to further strengthen the project’s investment structure and improve its long-term financial capacity.
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