Bungal Hydropower IPO Opens Today for Locals and Migrant Workers

Bungal Hydropower Limited has opened its Initial Public Offering (IPO) from today, Ashad 29, targeting project-affected locals and Nepali citizens working abroad. The company is issuing 29,05,000 shares, equivalent to 35% of its total issued capital of Rs. 830 million. Out of this, 830,824 shares (10%) are allocated for residents of the project-affected areas. Among them, 65% will be distributed to residents of Bungal Municipality Ward-6 (former Pipalakot and Kaflaseri VDCs), while the remaining 35% will go to residents of Wards 1, 2, 3, 4, 5, 8, 9, 10, and 11 of Bungal Municipality.

Additionally, 207,500 shares have been reserved for Nepali migrant workers with valid labor permits. Applicants can apply for a minimum of 10 shares and up to 20,000 shares. Locals can apply from Shrawan 11 to Shrawan 26, while migrant workers must apply by Shrawan 11. Himalayan Capital Limited is the issue and sales manager. Applications can be submitted through designated bank branches and all C-ASBA member banks and financial institutions.