IPO for project-affected locals of Nuwakot District: Buddha Bhumi Nepal Hydropower issuing 4,00,000 units IPO shares from Today

Buddha Bhumi Nepal Hydropower Company Limited is issuing its 4,00,000 unit IPO shares to the project-affected locals of Nuwakot District from today, i.e. Shrawan 32, 2078.

The IPO issue for locals is open from Shrawan 32 - Bhadra 14. If unsubscribed, the issue can be extended up to Bhadra 29, 2078. The interested locals can place their applications for a minimum of 10 units and a maximum of 50,000 units.

Civil Capital Market Limited has been appointed as the issue manager for the IPO issuance.

The company has 40,00,000 registered shares of which 12,00,000 shares will be issued to the public (Locals and General Public). This is 30% of the company's paid-up capital. 

After the IPO is issued in two phases, first to locals and then to the general public, the promoter: public shareholding ratio of the company will be 70:30, and paid-up capital will be Rs 40 crore.

ICRA Nepal Limited has assigned an [ICRANP] IPO Grade 4+ (Pronounced as ICRA NP IPO Grade Four Plus) to the Rs.12 crore IPO of Buddha Bhumi Nepal Hydro Power Company Limited. Instruments with this grading are considered to have below-average fundamentals.

The company is developing a 4.993-MW Lower Tadi Khola hydropower project in Nuwakot District, Province 3 of Nepal.

Click here for IPO Offer Letter: