Today is the final day for local residents of the project-affected area to apply for the IPO issued by Bhujung Hydropower Limited, which has been open since Poush 3. The company has issued the IPO in the first phase for local residents of the project-affected area and Nepalis working abroad.
The company received approval to issue 20 percent of its issued capital of NPR 1 billion, amounting to NPR 200 million, equivalent to 2 million shares. Out of this, ordinary shares worth NPR 100 million, or 1 million shares at a face value of NPR 100 per share, have been allocated for local residents of the project-affected area.
Of the shares reserved for local residents, 60 percent, or 600,000 shares, will be distributed to residents of the directly affected area—Ward No. 4 of Kwholasothar Rural Municipality in Lamjung district. The remaining 40 percent, or 400,000 shares, will be allocated to residents of the indirectly affected areas, namely Wards No. 1, 2, 3, 5, 6, 7, 8, and 9 of the same rural municipality.
Kumari Capital Limited has been appointed as the issue and sales manager for the IPO. Local residents can submit their applications through the Ward No. 4 Office of Kwholasothar Rural Municipality, the Kwholasothar Rural Municipality Office, and the Besishahar branch offices of Kumari Bank, Sanima Bank, Prabhu Bank, and Machhapuchchhre Bank, as well as the registered office of Bhujung Hydropower Limited.
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