Bungad Hydropower Limited to Open IPO for General Public from Bhadra 16

Bungad Hydropower Limited is set to open its Initial Public Offering (IPO) for the general public from Bhadra 16. The company has received approval from the Securities Board of Nepal (SEBON) to issue 2.905 million ordinary shares at a par value of NPR 100 each, representing 35% of its NPR 830 million issued capital.

Earlier, in the first phase, the company had already allotted 830,000 shares to project-affected locals and 207,500 shares to Nepali migrant workers with labor approval. Likewise, 103,750 shares were reserved for mutual funds and 62,250 shares for company employees. The remaining 1,701,500 shares will now be issued to the general public.

Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares. The application deadline is set between Bhadra 16 to Bhadra 19 (early closing) and Bhadra 30 (late closing). Given recent IPO subscription trends, it is expected that the issue will be fully subscribed within the early deadline.

Himalayan Capital Limited has been appointed as the issue manager for this IPO.