Beni Hydropower to issue IPO from September 22

Kathmandu. Beni Hydropower Project Limited is going to issue an IPO for the general public from September 22. The company is going to sell 8,63,200 units of IPO to the general public.

The company is issuing the remaining 10.40 lakh units of shares to the general public after allotting 10.40 Lakh units of shares to the project-affected locals and the remaining shares for the Nepalese employed abroad, employees and mutual funds.

Applications can be placed for the IPO from a minimum of 10 units to a maximum of 10,000 units. The issue will be open till September 25 at the earliest and till September 20 if the applications are not received as per the demand. NMB Capital Limited is the issue manager for the IPO. Applications can be made through ASBA member banks and financial institutions and My Shares.

The company, which is operating the 19.8 MW Upper Solukhola Hydropower Project in Solukhumbu, has said that the proceeds from the IPO will be used to repay the bank loan. ICRA Nepal has given the company an ‘ICRANP Issue Double B Plus’ rating for the IPO issuance.

According to the company’s unaudited financial statements till mid-January, the accumulated profit has crossed Rs 10.34 crore. The net worth per share of the company stands at Rs 91.27 crore. After listing on NEPSE, the share price of the company will be fixed in the range of Rs 91.27 to Rs 273.81 for the first transaction.