Bindhyabasini Hydropower Development Company Ltd. is about is issue 15,00,000 shares to the general public. As per our source, the IPO will open from Jestha 20, 2079 BS, and its closing date on Jestha 25, 2079 BS. But if the issue is under subscribed until Jestha 25, the deadline would get extended till Ashad 3rd, 2079 BS. Saying that, an individual can apply for a minimum of 10 shares and a maximum shares of 1,00,000.
Four percent of 60,000 shares are separated for the employees of the company, out of the total issue. Moreover, five percent of the total share (i.e 75000 shares) are provided to the mutual funds. So according to our calculation, the general public would be about the submit application for a total of 13,65,000 shares.
Besides that, the company is planning to issue 25 lakh units share as Initial Public Offering.
IPO To Locals
Previously, Bindhyabasini Hydropower Development Company Limited sold 10, 00, 000 shares to the locals of the area affected by the project. The initial public offering was opened from Baishakh 11 and was closed on Baisakh 27th, 2079 BS. As per reports, locals of wards number 5,6, and 7 of Kwhlosother Rural Municipality of Lamjung District and Ward numbers 8 and 9 of Madi Rural Municipality of Kaski District got the opportunity to participate in the 7,00,000 shares of the company. Besides that the locals of Kwslosothar Rural Municipality, Lamjung, and Madi Rural Municipality, Kaski applied for the remaining 3,00,000 shares.
The local could apply at the par value of Rs 100 for a minimum of 10 shares and a maximum of 100000 shares. The project/company got approval from the Securities Board of Nepal on 25 th Chaitra, 2078 BS. Likewise, Sanima Capital Limited has been selected as the issue and sales manager for the IPO.
After the issuance of shares, the general public will have 25 percent of the company and the promoters of the company will hold 75 percent shares.
About Bindhyabasini Hydropower Development Company Limited
Bindhyabasini Hydropower Development Company Limited (BHDC) was incorporated in 2057 BS. The company completed its first project of RUDI A(8.8 MW) in 2018. The RUDI Khola A small Hydropower Project is based at Mijurendanda VDC of the Kaski district. Likewise, Rudi Khola B Small Hydropower Project of 6.6 Mega Watt is a run-of-river type of project located in Lamjung District at Pasgaun VDC as mentioned on the BHDC official site.
As of now, Bindhyabasini Hydropower Development Company Limited has a total capital worth Rs 75 crores. After the issuance of the IPO, the capital will be increased and be Rs 100 crores.