Kathmandu. Beni Hydropower Project Limited is going to issue IPO from September 22. The company has already issued the initial public offering (IPO) to the general public after allocating the initial public offering (IPO) to the locals of the project-affected areas and the Nepalis working abroad.
The company was allowed to issue 20,80,000 units of shares worth Rs 20.80 crore i.e. 20 percent of the issued capital of Rs 1.04 billion. Out of the total offered shares, 10,40,000 units have been set aside for the locals of the project affected area and 1,04,000 units have been set aside for the Nepalese working abroad.
Similarly, the company has set aside 20,800 units for its employees and 52,000 units for the mutual funds. In the second phase, the company is issuing 8,63,20,000 units of shares at a face value of Rs 100 per share to the general public.
Applications can be place for minimum 10 units and maximum 1000 units. The last date to apply for the IPO is September 25 at the earliest and the last date for the IPO is September 25.
ICRA Nepal has assigned ICRA NP Issue Rating Double B Plus to the company. This indicates that there is an average risk to the company’s ability to meet its obligations.
NMB Limited has been appointed as the issue manager for the IPO issuance. The interested investors can apply for the ASBA service from the banks and financial institutions participating in the ASBA service through the ASBA system. In addition, the applicants can also apply online using CDS & Clearing Limited’s software My Share.
