Kathmandu. The initial public offering (IPO) of Bhujung Hydropower Limited (BHUJCL) is set to be issued on February 27. Kumari Capital Limited is the issue manager for the IPO at 9:00 am today.
A total of 2,665,174 investors have applied for 3,07,820 units of shares in the IPO that was opened from January 26 to 29. A total of 83,000 people will be allotted 10 units of shares each. According to this, 25,82,174 investors will be empty-handed.
The company was allowed to issue 20 percent of the issued capital i.e. 20 million units of shares worth Rs 200 million. Out of the total offered shares, the company has set aside 10 Lakh units for the locals of the project affected area and 1 Lakh units for the Nepalese working abroad.
In the second phase, the company has reserved 20,000 units for its employees and 50,000 units for mutual funds.
ICRA Nepal has assigned ICRA NP Issue Rating ‘Single B Plus’ to the company. This indicates that there is a high risk to the company’s ability to meet its obligations.
