Bhugol Energy Development Company To Sell 16,32,160 Shares In IPO
Bhugol Energy Development Company Limited plans to go public with an initial public offering (IPO). On Chaitra 2, 2078 BS, the company filed an application with the Securities Board of Nepal (SEBON) for this purpose. The company can only float the shares to the public after receiving approval from SEBON.
If SEBON approves the IPO, the company will sell 16,32,160 shares. The public issue is worth Rs. 16.32 crores at a par value of Rs. 100.
(Also read: Upcoming IPOs in Nepal 2023)
The hydropower will issue shares to residents of the project’s affected areas in the first phase of the IPO. Following the sale of shares to locals, the company will float shares to the general public. NIC Asia Capital Limited has been appointed as the IPO’s issue and sales manager. In this context, the company and NIC Asia Capital have already agreed.
Information on Bhugol Energy Development Company Limited
Bhugol Energy Development Company was established on February 16, 2009. The company was later converted into a public limited company on October 31, 2017. The company currently runs a 3.75 MW Dwari Khola Small Hydropower Project in Karnali’s Dailekh District. It’s a run-of-the-mill project. The project became operational on May 6, 2017 [Baisakh 23, 2074 BS]. The Dwari Khola Small Hydropower Project costs Rs. 19.6 crores per MW to build.