October 12, 2023 | Investopaper
Beni Hydropower Project Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Ashwin 5, 2080 BS. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
If approved by SEBON, the company will sell 20,80,000 shares in the initial public offering (IPO). At a par value of Rs. 100, the public issue amounts to Rs. 20.80 crores.
The company has appointed NMB Capital Limited as the issue and sales manager for the IPO. An agreement has been reached between the company and NMB Capital on this regard.
In the first phase, the company will issue shares to the locals of the project affected areas and foreign employed Nepalese. Likewise, in the second phase, the hydropower will float shares to the general public, including the employees of the company and the mutual fund schemes.
About Beni Hydropower Project Limited
Beni Hydropower Project Limited is currently developing Upper Solu Khola Hydropower Project in Solukhumbhu district. The project is a run-off-river (ROR) type project with an installed capacity of 18 MW.