Kathmandu. Today is the last day to apply for the IPO of Bungal Hydro Limited, which has opened its issue and sale from August 15.

The company has issued the IPO for the general public after the ipo allotment issued for the local residents of the project-affected areas and Nepalis in foreign employment.

The company had received permission to issue 2.9 million units of shares worth Rs 290.5 million, or 35 per cent of the issued capital of Rs 830 million.

Out of this, 830,824 units of ordinary shares have been issued to the local residents of the project-affected areas and 207,500 units of ordinary shares have been issued and allotted to Nepalis employed abroad after obtaining labour clearance from the concerned authorities of the Government of Nepal.

Similarly, the company has reserved 103,750 units of ordinary shares for mutual funds and 62,250 units for employees.

In the second phase, the company issued 1,701,500 units of ordinary shares worth Rs 171.5 million with a face value of Rs 100 each for the general investors.

Applications can be made for a minimum of 10 units and a maximum of 20,000 units.

The total cost of the 10.70 MW Upper Sanigad Hydropower Project is Rs 3.02 billion and the cost per MEGAWATT is Rs 282.58 million.

There are 26 years and 10 months left for the power license of the hydropower project. The general investment repayment period of the project is 9.85 years while the withdrawal period in the discount is 22.29 years.

Himalayan Capital Limited is the issue manager of the company. General investors can apply through C-ASBA system from all C-ASBA member banks and financial institutions and their designated branch offices approved by the Securities Board of Nepal.