Kathmandu- Bhujung Hydropower Limited has opened its initial public offering for the general public from Sunday, issuing a total of 830,000 units of ordinary shares in the second phase of its IPO.
Out of the total shares on offer, 50,000 units have been allocated for collective investment funds and 20,000 units for company employees. The remaining shares are available for general investors. Applicants can apply for a minimum of 10 shares and a maximum of 50,000 shares.
Investors can submit applications through ASBA member banks and financial institutions approved by the Securities and Exchange Board of Nepal, as well as their designated branch offices. Applications can also be submitted online through the ‘Mero Share’ system.
According to the company, the IPO will close on Magh 15 at the earliest and on Magh 26 at the latest, depending on the level of subscription. Kumari Capital Limited has been appointed as the issue and sales manager for the IPO.
Mero Share Portal https://meroshare.cdsc.com.np/#/login
Bhujung Hydropower had earlier received approval from the Securities and Exchange Board of Nepal on November 21 to issue 2 million ordinary shares worth Rs 200 million. Under the same approval, the company issued shares in the first phase from December 3 for local residents of the project-affected areas and Nepali citizens working abroad.
Following the completion of the first-phase allotment, the company has now opened the IPO for the general public in the second phase.
