Kathmandu. Beni Hydropower Project Limited is going to issue an initial public offering (IPO) to the general public from September 22. The company is going to issue 8,63,200 units of IPO to the general public.
Out of the total 10.40 Lakh units of shares allotted for the project-affected locals, the company is going to issue the remaining shares to the general public. Applications can be submitted for the IPO from a minimum of 10 units to a maximum of 10,00
0 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 has been appointed as the issue manager for the IPO. Applications can be submitted 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 it will use the proceeds from the IPO to repay bank loans. ICRA Nepal has assigned ‘ICRA NP Issue Double B Plus’ rating to the company for the IPO issuance.
According to the company’s unaudited financial statements, the net profit stood at 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.
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