KATHMANDU: Beni Hydropower Project Limited has opened its initial public offering (IPO) to the general public from today. The company has issued 8,63,200 units of shares to the general public at a face value of Rs 100 per share.
The Securities Board of Nepal (SEBON) on February 12, 2082 allowed the company to issue 20,80,000 units of shares worth Rs 20.80 crore.
The company has already allotted 10% of its issued capital i.e. 10.40 million units of shares to the project-affected locals and 104,000 units of shares to the Nepalese working abroad.
Similarly, 20,800 units have been set aside for employees and 52,000 units for mutual funds. The remaining 8,63,200 units have been put up for sale to the general public.
Investors can apply for a minimum of 10 units to a maximum of 10,000 units. The application deadline will be till September 19 at the earliest and till September 25 if there are not enough applications.
The IPO can be applied through ASBA member banks and financial institutions and their branches approved by the Securities Board of Nepal. In addition, applications can also be made through the Meroshare system.
NMB Capital Limited has been appointed as the issue manager for the IPO. ICRA Nepal has assigned ‘ICRA IR Double B Plus’ rating to the company, indicating moderate risk to its ability to meet its financial obligations on time.
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