IPO Proposal of Bhujung Hydropower Approved by SEBON

The Securities Board of Nepal (SEBON) has granted the Initial Public Offering (IPO) proposal of Bhujung Hydropower Limited (BJHL). The approval was issued on 11th Mangsir, 2082.

According to the approved proposal, the company will issue a total of 2,000,000 shares to the general public. The shares will be offered at a par value of Rs. 100 per unit.

Kumari Capital Ltd has been appointed the issue manager for the public offering.

ICRA Nepal Limited has downgraded Bhujung Hydropower Limited from a [ICRANP-IR] B+ issuer rating to [ICRANP-IR] B-. This revision indicates a heightened perception of risk associated with Bhujung Hydropower Limited's ability to meet its financial obligations on time.

Bhujung Hydropower (P.) Ltd is a hydropower development company founded in 2015. The company is developing the Upper Midim Hydropower Project, a run-of-river type project with a licensed capacity of 7.5 MW. The project is located in Kwhlosothar Rural Municipality, Lampung district of Nepal. The central office of the company is located at Old Baneswor Kathmandu.