What is controversy of SEBON chairman and Bungal hydro about?

In a surprising move, Bungal Hydro Limited has received approval from the Securities Board of Nepal (SEBON) to issue an IPO worth Rs. 29.05 crore.

What makes this decision more controversial is its timing. Just five days ago, Bungal Hydro was removed from SEBON’s IPO pipeline — a list that still includes many companies waiting in line for months.

But the story doesn’t end there.

What has caught the public’s attention is that SEBON Chairman Santosh Narayan Shrestha reportedly holds promoter shares in Bungal Hydro. This detail has triggered concerns over conflict of interest and fairness in the approval process.

While Bungal Hydro prepares to enter the market, critics are asking tough questions: Was this approval rushed? And can investors trust that SEBON is treating all companies equally?

The incident has stirred debate among market analysts and investors alike, adding a new layer of scrutiny to SEBON’s decision-making.