Bungal Hydropower Limited is set to launch its first-phase IPO from Asar 29, targeting project-affected locals and Nepalis working abroad with labor permits.
Bungal Hydropower Limited has announced the opening of its first-phase Initial Public Offering (IPO) from Asar 29. The company plans to issue 2,905,000 shares at a face value of Rs. 100 each, equivalent to 35% of its total issued capital of 83 crore rupees. Approval for the IPO was recently obtained from the Nepal Securities Board.
This IPO is specifically allocated for project-affected residents and Nepali citizens working abroad with valid labor permits. Out of the total shares, 830,000 units have been reserved for the project-affected locals, while 207,500 units are allocated for migrant workers.
Among the project-affected locals, residents of the highly affected areas can apply for 539,500 units. This includes individuals from Bungel Municipality Ward No. 6 (formerly Wards 4, 5, and 7 of Pipal Kote VDC) and Ward No. 7 (formerly Ward 1 of Kaflaseri VDC). Likewise, 290,500 units are set aside for residents of less-affected areas, covering Bungal Municipality Wards 1, 2, 3, 4, 5, 8, 9, 10, and 11
Applicants must request a minimum of 10 shares and can apply for up to 20,000 shares. The deadline to submit applications is Shrawan 11. However, if the issue is not fully subscribed by then, the deadline will be extended to Shrawan 26.
This article was originally published on https://bajarkochirfar.com Translated with the help of AI and reviewed by our editorial team.
