Bungal Hydropower Limited has opened its IPO for general investors from Bhadra 16, offering 17.01 lakh shares worth Rs. 17.01 crore.
Bungal Hydropower Limited has officially opened the issuance of ordinary shares (IPO) for general investors from today, Bhadra 16. Prior to this phase, the company had already issued shares to project-affected locals and Nepalis working abroad.
The company received approval to issue 35 percent of its issued capital, equivalent to 29.05 lakh shares worth Rs. 29.05 crore, out of its total issued capital of Rs. 83 crore. Out of this allocation, 8,30,824 shares were reserved for project-affected locals, 2,07,500 shares for Nepalis working abroad, 1,03,750 shares for mutual funds, and 62,250 shares for employees.
In the second phase, the company is now issuing 17,01,500 shares at a par value of Rs. 100 each, amounting to Rs. 17.01 crore, for general investors. Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares. The application period will close as early as Bhadra 19 and no later than Bhadra 30.
The IPO has been rated CARENP-B (Single B Issuer Rating) by Care Ratings Nepal, indicating an average level of risk regarding the company’s capacity to meet its financial obligations. Himalayan Capital Limited is the issue and sales manager for this IPO.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
