Beni Hydropower Project Limited Concludes IPO Allotment for Nepalese Citizens Working Abroad; 10,400 Lucky Applicants Receive 10 Units each

The IPO allotment for Nepalese citizens working abroad by Beni Hydropower Project Limited was concluded today, 15th 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 for Nepalese citizens working abroad.

The issue received a total of 79,232 valid applications for 10,89,300 units. Meanwhile, 23 applications for 260 units were disqualified.

As per the allotment module, 10,400 applicants were allotted 10 units each.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and NMB Capital Limited.

NMB Capital Limited was appointed as the issue manager. The minimum application quantity for Nepalese citizens working abroad was 10 units, and the maximum was 10,000 units.

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.