Kathmandu. Bhujung Hydropower Company Limited (BHPCL) is issuing initial public offering (IPO) from today.

In the first phase, the company has started issuing shares to the locals of the project-affected areas and Nepalis living abroad after taking labour permit.

The company is issuing 20 percent of the issued capital i.e. 20 million units of shares worth Rs 200 million. The company has issued 10 lakh units of shares worth Rs 100 million each to the locals of the project-affected areas.

Similarly, 60 percent or 600,000 units of shares have been allocated to the locals of Kwolasothar Rural Municipality-4 of Lamjung district. The remaining 40 percent of the indirect affected areas have been allocated for the locals of ward 1, 2, 3, 5, 6, 7, 8 and 9.

Similarly, the company has set aside 100,000 units of ordinary shares worth Rs 100 per unit for the general public. Applications can be place for minimum 10 units and maximum 50,000 units.

Locals of the project-affected areas can apply till January 1. If the application is not received as per the demand within that time, the application can be submitted till January 15. Similarly, Nepalis who are in foreign employment can apply till December 20. If the application is not received as per the demand within the stipulated period, the application can be submitted till January 1.

The interested bidders can bid for the IPO from Kuwalasothar Rural Municipality-4, Kumari Bank, Sanima Bank, Prabhu Bank, Machhapuchchhre Bank at Besisahar, Bhujung Hydropower Limited, Kathmandu-based Samakhusi, Kathmandu.

Similarly, Nepalese who are in foreign employment can apply from the banks and financial institutions that have taken C Ashwa membership from the Securities Board of Nepal and through My Shares. Kumari Capital has been appointed as the issue manager.