Bhujung Hydropower Limited Closing IPO Shares to Project-Affected Locals of Lamjung From Today

Bhujung Hydropower Limited is closing the issue of 10,00,000 units of Initial Public Offering (IPO) shares for project-affected locals of Lamjung District today, 17th Poush, 2082. The IPO had opened on 3rd Poush, 2082.

The issued capital of the company is Rs. 1 Arba. Of this, 20%, i.e., 20,00,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 10,00,000 unit shares worth Rs. 10 Crores, will be allocated to project-affected locals of Lamjung districts. The remaining 10% of the issued capital, i.e., 10,00,000 unit shares, will be offered to the general public at a later date.

Of this general public issue, 10%, a total of 1,00,000 unit shares, were allocated for Nepalese citizens working abroad.

For the project-affected locals and Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 50,000 units.

Kumari Capital Limited has been appointed as the issue manager.

ICRA Nepal Limited has downgraded Bhujung Hydropower Limited from an [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.