Kathmandu. Buddhabhumi Nepal Hydropower Company Limited has extended the deadline for applying for right shares from April 22. Applications for the right shares of the company could be submitted till April 27. However, as of April 26, applications have been received for a total of 14,50,271 units of shares. The company has extended the issue period due to less applications than the demand.
The company has issued 1 lakh right shares at a face value of Rs 100 per share. Accordingly, the company has issued 40 lakh units of right shares at a face value of Rs 100 per share worth Rs 40 crore.
The company had closed the book on February 14 for the purpose of issuing right shares. According to this, the shareholders who have been traded in NEPSE till February 29 will be able to apply for the right shares.
Infomerics Credit Ratings Nepal has assigned IRN Double B Issuer Rating to the company in the rating for the right issue. This indicates that there is moderate risk in its ability to bear financial obligations on time.
NIC Asia Capital Limited has been appointed as the issue manager for the IPO issuance. Interested bidders can apply from the company’s Panipokhari, Maharajgunj office, Thaprek, Nuwakot and NIC Asia Bank’s Biratnagar, Birgunj, Narayanghat, Pokhara, Butwal, Nepalgunj, Dhangadhi and Surkhet branch offices. Similarly, the interested bidders can apply online from the banks and financial institutions participating in the C ASBA service licensed by the Securities Board of Nepal (SEBON) and online using the software ‘Mero Share’ developed by CDS and Clearing Limited.
Currently, the company has a paid-up capital of Rs 40 crore. After the right issue and allotment, the paid-up capital of the company will reach Rs 80 crore.
