Beni Hydropower Project Limited Closing IPO Shares to Project-Affected Locals of Solukhumbhu From Today

Beni Hydropower Project Limited is closing the issue of 10,40,000 units of Initial Public Offering (IPO) shares for project-affected locals of Solukhumbhu District today, 15th Chaitra, 2082. The IPO had opened on 1st Chaitra, 2082.

The issued capital of the company is Rs. 1.04 arba. Of this, 20%, i.e., 20,80,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 10,40,000 unit shares worth Rs. 10.40 Crores, will be allocated to project-affected locals of Solukhumbhu district. The remaining 10% of the issued capital, i.e., 10,40,000 unit shares, will be offered to the general public.

Of this general public issue, 10%, a total of 1,04,000 unit shares, were allocated for the Nepalese citizens working abroad.

For the project-affected locals, the minimum application quantity to be applied is 10 units, while the maximum quantity is 10,000 units. And for the Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 10,000 units.

NMB Capital Limited has been appointed the issue manager for the public offering.

ICRA Nepal has upgraded the issuer rating of Beni Hydropower Project Limited (BEPL/the company) to [ICRANP-IR] BB+ (pronounced ICRA NP Issuer Rating Double B Plus) from [ICRNAP-IR] BB (pronounced ICRA NP Issuer Rating Double B). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations

Beni Hydropower (P.) Ltd is a hydropower development company founded in 2016. The company is developing the Upper Solu Khola Hydropower Project, a run-of-river type project with a licensed capacity of 18 MW. The project is located in Beni (Salleri), Solukhumbhu district of Nepal. The project is currently under construction.