Bhujung Hydropower Limited has opened its IPO for general investors from Magh 12 (B.S.), issuing 830,000 ordinary shares in the second phase after completing allocations for locals and migrant workers.
Bhujung Hydropower Limited has opened the issuance and sale of its Initial Public Offering (IPO) to the general public starting today, Magh 12 (B.S.). The company has moved to this second phase after completing share issuance for project-affected local residents and Nepalis employed in foreign countries.
The company had received approval from the Securities Board of Nepal (SEBON) to issue 20 percent of its issued capital, equivalent to Rs 20 crore, through the issuance of 20 lakh shares. Out of this, 10 lakh shares were allocated to project-affected local residents, while 1 lakh shares were issued to Nepalis working abroad.
Under the second phase of the IPO, the company has reserved 20,000 shares for employees and 50,000 shares for mutual funds. The remaining 8 lakh 30 thousand ordinary shares, amounting to Rs 8 crore 30 lakh, have been issued for general public investors.
Investors can apply for a minimum of 10 shares and a maximum of 50,000 shares. The IPO will close as early as Magh 15 (B.S.) if fully subscribed and will remain open until Magh 26 (B.S.) if undersubscribed.
For the IPO issuance, ICRA Nepal has assigned Bhujung Hydropower Limited an ICRANP Issuer Rating of “Single B Plus (B+)”, which indicates a high level of risk in the company’s ability to meet its financial obligations.
The issue and sales manager for the IPO is Kumari Capital Limited. Investors can submit applications through the C-ASBA system via all SEBON-approved C-ASBA member banks and financial institutions and their designated branch offices.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
