Kathmandu. Bhujung Hydropower Limited is going to issue IPO from December 17. The company is going to issue IPO for the local residents of the project-affected area and the Nepalese employed abroad.

The company was allowed to issue 20 percent of the issued capital i.e. 20 million units of shares worth Rs 200 million. Out of this, the company is issuing 10 lakh units of ordinary shares worth Rs 100 per share to the locals of the project-affected area.

Out of the total 600,000 units of shares allotted to the residents of the project-affected area, 60 percent i.e. 6 lakh units have been allotted to the Ward No. of Kuolasothar Rural Municipality of Lamjung district. The remaining 40 percent will be distributed among the residents of Ward No. 4 and the remaining 40 percent will be distributed among the indirectly affected areas. The allocation will be made for residents of wards 1, 2, 3, 5, 6, 7, 8 and 9.

In addition to this, 10% of the total shares of the total amount of shares will be issued to the general public at a face value of Rs 100 per share.

The interested investors can apply for a minimum of 10 units of shares in the IPO. Applications can be place for a maximum of 50,000 units in the IPO. For the locals of the project-affected areas, the issue will be closed on January 3 and will be delayed on January 17. Similarly, the issuance of Nepalis who are in foreign employment will be closed on December 23 at the earliest and for the latter on December 31.

Kumari Capital Limited has been appointed as the issue manager for the IPO issuance. Locals of Kwolasothar Rural Municipality Ward No. Interested bidders can bid for the shares from Kumari Bank, Sanima Bank, Prabhu Bank, Machhapuchchhre Bank’s Besishahar branch office and Bhujung Hydropower’s Samakhusi-Kathmandu office. Locals of the project-affected areas have to pay Rs 2 as application fee for the purchase of shares.

The eligible applicants can apply for the post through the Securities Board of Nepal (SEBON) approved by the Securities Board of Nepal (SEBON) from all ASBA member banks and financial institutions and their designated branch offices.