Bungal Hydropower Limited’s Initial Public Offering (IPO) is closing today. The company opened the issue on September 1 (Bhadra 16, 2081), offering 1,701,500 shares to the general public.
Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares through ASBA member banks, financial institutions, and their designated branches. Applications can also be submitted online via Mero Share.
Credit rating agency CARE Ratings Nepal has assigned the company a rating of CARE-NP Single B (Issuer Rating), indicating an average risk in meeting its financial obligations.
The IPO is being managed by Himalayan Capital Limited.
Earlier, the company had issued shares to local residents affected by the project and to Nepali citizens working abroad, which have already been allotted.
Bungal Hydropower received approval to issue its IPO on Ashadh 15, 2081. Out of the total approved 2.905 million shares (worth Rs. 290.5 million at a face value of Rs. 100 each):
- 830,824 shares were allocated to locals in the affected area.
- 207,500 shares were allocated to Nepalis working abroad.
- The remaining 1,701,500 shares are for the general public, closing today.
