Kathmandu, June 8
Bindhyabasini Hydropower Development Company Limited (BHDCL) is closing its IPO issue from today i.e. Jestha 25. The company is issuing 13,65,000 units worth Rs. 13.65 crores of ordinary shares as IPO to the general public from 20th Jestha, 2079.
Out of offered 15,00,000 units; 4% or 60,000 units, were allocated to employees, while another 5% i.e 75,000 units were for the mutual funds. The remaining 13,65,000 units were for general public. Interested people were required to apply for a minimum of 10 units and they can apply for a maximum of 100,000 shares.
Sanima Capital Limited has been appointed as the issue manager for the IPO issuance. According to CDSC, 15,41,837 applicants have applied for a total of 1,85,02,690 units. Thus, the issue is already oversubscribed by 13.55 times so far. This is the data till yesterday evening
Thus, the paid-up capital of the company after the IPO allotment will reach Rs 1 arba.
CARE Ratings Nepal has assigned a double B plus issuer rating [CARE-NP BB+ (Is)] to the company. Companies with this grading are considered to have a moderate risk of default regarding timely servicing of financial obligations.
Bindhyabasini Hydropower Development Company Ltd. (BHDCL) is a Public Company, incorporated on December 18, 2000 as private company and later on, converted to public limited company in March 13, 2017. BHDCL has two operational run of the river hydropower project; 8.8 MW Rudi Khola-A Hydropower Project (Rudi A) and 6.6 MW Rudi Khola-B Hydropower Project (Rudi B). Rudi A is operational since Mid-March 2019 whereas Rudi B is operational since Mid-February 2020. The project is constructed under BOOT model (Build, Operate, Own and Transfer).
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