The IPO proposal of Bhujung Hydropower Limited is in SEBON's pipeline.
The company has submitted a proposal to the capital market regulator to issue a total of 14,55,000 shares. This will raise Rs. 14.55 crores for the company. The application was submitted on Bhadra 13, 2080.
Kumari Capital Limited has been appointed the issue manager for the public offering.
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.
Upper Midim Hydropower Project (UMHPP) has an estimated cost of NRS 1.56 billion. As per the Power Purchase Agreement (PPA) with the Nepal Electricity Authority (NEA), the required commercial operation date (RCOD) of the Project is July 21, 2021. The company received a generation licensee on September 11, 2020, for 35 years.