Bhugol Energy Development Company To Sell 16,32,160 Shares In IPO

May 19, 2022 | Investopaper

Bhugol Energy Development Company Limited is going to issue an initial public offering (IPO). For this purpose, the company has submitted the application to Securities Board Of Nepal (SEBON) on Chaitra 2, 2078 BS. Only after receiving the approval from SEBON, the company can float the shares to the public.

If approved by SEBON, the company will sell 16,32,160 shares in the IPO. At a par value of Rs. 100, the public issue amounts to Rs. 16.32 crores.

In the first phase of the IPO, the hydropower will issue shares to the locals of the project affected areas. After selling the shares to the locals, the company will float shares to the general public.

The company has appointed NIC Asia Capital Limited as the issue and sales manager for the IPO. An agreement has already been reached between the company and NIC Asia Capital in this regard.

About Bhugol Energy Development Company Limited

Bhugol Energy Development Company was established on February 16, 2009. Later on October 31, 2017, the company was transformed into a public limited company.

The company is currently operating a 3.75 MW Dwari Khola Small Hydropower Project located at Dailekh District in Karnali. It is a run-of-the-river type project. The project started commercial operation from May 6, 2017 [Baisakh 23, 2074 BS].

Dwari Khola Small Hydropower Project was developed at a cost of Rs. 19.6 crores per MW.


Suggested Readings:

Upcoming Initial Public Offerings (IPO) In Nepal

How to apply IPO/FPO/Right Share through Mero Share?

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