Kathmandu. Bungal Hydro Limited is set to issue its Initial Public Offering (IPO) to the general public from Bhadra 16. Earlier, the company had already allocated shares to project-affected locals and Nepalis working abroad, and is now moving ahead with the public issuance.
The company had received approval to issue 29,05,000 shares, equivalent to 35 percent of its issued capital of Rs. 83 crore. Out of the total, 8,30,824 ordinary shares were allotted to project-affected locals, while 2,07,500 shares were allocated to Nepalis working overseas with official labor approval from the Government of Nepal. These shares have already been distributed. Similarly, 1,03,750 shares have been reserved for mutual funds, and 62,250 shares for company employees.
In the second phase, the company will now issue 17,01,500 ordinary shares worth Rs. 17.01 crore at a face value of Rs. 100 per share for the general public.
Applicants can apply for a minimum of 10 shares and a maximum of 20,000 shares. The IPO subscription will remain open until Bhadra 19.
Himalayan Capital Limited is the issue and sales manager for this IPO. General investors can apply through all C-ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON) and their designated branches. Applications can also be submitted online via the “Mero Share” platform developed by CDS and Clearing Limited.
