Last Day to Apply for IPO of Bindhyabasini Hydropower (BHDCL); Issue Already Oversubscribed

Bindhyabasini Hydropower Development Company Limited (BHDCL) is closing the IPO issue for locals of Lamjung and Kaski today, i.e. 27th Baisakh, as the issue has already been oversubscribed. Collection centers will stop taking applications at the end of banking hours.

The company has been issuing 10,00,000 shares at a par value of Rs. 100 per share for the project affected locals from 11th Baisakh, 2079. Locals of wards no. 5, 6, and 7 of Kwhlosothar Rural Municipality in Lamjung and wards no. 8 and 9 of Madi Municipality in Kaski have been allocated with 7 lakh shares. Meanwhile, the remaining 3 lakh shares were for the other residents of Kwhlosothar Municipality and Madi Municipality. The interested locals can place their applications for a minimum of 10 units and a maximum of 1,00,000 units.

Sanima Capital has been appointed as the issue manager for the IPO issuance. 

CARE Ratings Nepal has assigned a double B plus issuer rating [CARE-NP BB+ (Is)] to the company. Companies with this grading are considered to have a moderate risk of default regarding timely servicing of financial obligations.

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