Bungal Hydro Limited has extended the deadline for its Initial Public Offering (IPO) for local residents of the project-affected areas. The IPO, which opened on Ashad 29, will now remain open for these residents until Shrawan 26. However, if enough applications are received before that, it may close earlier.
For Nepalese working abroad, the application deadline remains unchanged at Shrawan 11.
The company is offering shares worth NPR 83 million at a face value of NPR 100 per share to locals. Meanwhile, shares worth NPR 27.75 million are available for Nepalese abroad.
The Securities Board of Nepal (SEBON) has approved 2.95 million shares (worth NPR 295 million), which is 35% of the company’s total authorized capital of NPR 830 million.
Investors must apply for at least 10 shares and can apply for up to 20,000 shares.
Bungal Hydro runs the 10.70 MW Upper Sanigad Hydropower Project, which was built at a cost of NPR 320.36 crore.
Himalayan Capital Limited is managing the IPO.
