Kathmandu. Beni Hydropower Limited is issuing initial public offering (IPO) to the general public from September 7. The company is issuing 8,63,200 units of shares to the general public after allocating its shares to project-affected locals, Nepalis in foreign employment, employees and mutual funds.
Applications can be place for minimum 10 units and maximum 10,000 units. The issuance is scheduled to close on September 19 at the earliest and from September 20 at the latest.
The company has already constructed 19.8 MW Upper Solukhola Hydropower Project in Solukhumbu at a cost of Rs 194.7 crore per megawatt. ICRA Nepal has assigned “ICRANP Issue Rating Double B Plus” to the IPO, indicating the average risk to the company’s ability to meet its financial obligations.
The normal tenure for return of investment of the project is 5.78 years. NMB Capital Limited is the issue manager for the IPO and can apply online from C-ASBA member banks and financial institutions and through ‘My Share’.
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