Bungal Hydropower Limited has received approval from the Securities Board of Nepal (SEBON) to launch its Initial Public Offering (IPO). The approval was granted on Ashadh 15, 2082, allowing the company to issue 2,905,000 shares to the public.
The shares under the Bungal Hydropower IPO will be offered at a face value of Rs. 100 per share, totaling approximately Rs. 290.5 million in issue size. The company has received a “B rating” from Care Ratings Nepal, indicating moderate creditworthiness and average fundamentals.
Himalayan Capital has been appointed as the issue and sales manager for the Bungal Hydropower IPO. With SEBON’s green signal, the company is now preparing to open the IPO to the general public. The opening date and other details will be announced soon.
