Bhujung Hydropower To Issue 5,00,000 Shares In IPO
September 11, 2023 | Investopaper
Bhujung Hydropower Company Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Bhadra 21, 2080 BS. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
If approved by SEBON, the hydropower will float 5,00,000 shares in the initial public offering. At a par value of Rs. 100, the public issue amounts to Rs. 5 crores.
In the first phase, the company will sell shares to the locals of the project affected areas. 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.
The company has appointed Kumari Capital Limited as the issue and sales manager. The agreement for public offering was signed between the company and Kumari Capital Limited on this regard on Wednesday. Mr. Khemraj Joshi, Executive Director of Bhujung Hydropower Company and Pushpa Sharma, CEO of Kumari Capital inked the agreement.
About Bhujung Hydropower Company Limited
Bhujung Hydropower Company Limited was established in 2015. The company is currently developing Upper Midim Hydropower Project in Kwhlosothar Rural Municipality of Lampung district.
The company received the generation license of the project on September 11, 2020 for 35 years. The project is a run-of-river type project with an installed capacity of 7.5 MW.
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