IPO for General Public: Bungal Hydro Limited to Issue 17,01,500 Units IPO Shares from Bhadra 16
Sun, Aug 24, 2025 8:43 AM on IPO/FPO News, Latest,
Bungal Hydro Limited will open its Initial Public Offering (IPO) for the general public on the 16th Bhadra, 2082. The company is issuing 17,01,500 unit shares at a par value of Rs. 100 per unit. The early closing date for the IPO is the 19th Bhadra, 2082, but if the issue is not fully subscribed by then, the deadline will be extended to the 30th of Bhadra, 2082.
The issued capital of the company is Rs. 83 Crores. Of this, 35%, i.e., 2,905,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 8,30,000 unit shares worth Rs. 8.30 Crores, were allotted to project-affected locals of Bajhang district.
The remaining 35% of the issued capital, i.e., 20,75,000 unit shares, will be offered to the general public later. Of this general public issue, 10%, a total of 2,07,500 unit shares, were allotted for Nepalese citizens working abroad. Of the general public issue, 3%, i.e., 62,250 units, have been set aside for the employees of the company, and 5% of the total offered shares, i.e., 1,03,750 units, have been set aside for the mutual funds. The remaining 17,01,500 units are for the general public, which will be opened on 16th Bhadra.
Himalayan Capital Limited has been appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 20,000 units.
ICRA Nepal has assigned a long-term rating of [ICRANP] LB- (pronounced ICRA NP L B minus) for the long-term loans and a short-term rating of [ICRANP] A4 (pronounced ICRA NP A four) for the short-term loans of Bungal Hydro Limited (BHL or the company).
Bungal Hydro Limited (BHL), incorporated on June 13, 2016, was developing the 10.70-MW Upper Sanigad Hydroelectric Project in Bajhang, Nepal. The project, a run-of-the-river type, had an estimated cost of NPR 2,867 million, financed through a 75:25 debt-to-equity ratio. As of mid-October 2022, BHL's paid-up capital was NPR 506 million, with major shareholders including Jalanjali Investment Pvt. Ltd. (28%), Barun Investment Pvt. Ltd. (14%), Jaya Ganesh Investment Pvt. Ltd. (13%), Shiva Shankar Investment Pvt. Ltd. (12%), and Bungal Hydro Investment Ltd. (12%), while 21% was held by other investors.
