Laughing Buddha Power Nepal to Issue IPO | Submits Application to SEBON

December 28, 2023 | Investopaper

Laughing Buddha Power Nepal Limited is going to issue an Initial Public Offering (IPO). The company is planning to sell 65,77,000 shares in the IPO at a face value of Rs 100. Hence, the public issue amounts to Rs 65.77 crores.


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For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Poush 2, 2080 BS. Only after receiving the approval from the regulatory body, the company can float the shares to the public.

The company has appointed Nabil Investment Banking Limited as the issue and sales manager. An agreement has already been reached between the hydropower company and Nabil Investment Banking in this regard.

Now, the company needs approval from the Securities Board of Nepal (SEBON) for the public offering.

In the first phase, the company will issue shares to the locals of the project-affected areas and the Nepalis in foreign employment. Similarly, after the first phase, the hydropower will sell shares to the general public, including the mutual fund schemes and the employees of the company.

Laughing Buddha Power Nepal Limited, incorporated on September 15, 2005, is currently operating three hydropower projects in Sindhupalchowk district:

—3 MW Chaku Khola Hydroelectric Project,

—1.69 MW Middle Chaku Khola Hydroelectric Project and

—1.8 MW Lower Chaku Khola Hydroelectric Project


Recommended:

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