Kathmandu. Bikas Hydropower Company is going to issue the first phase ipo from May 15. In the first phase, the company is going to issue an IPO for the project-affected local and foreign employment Nepalis.
The Securities Board of Nepal (SEBI) has approved the issuance of 445.45 million units of IPO of 49 percent of the issued capital of Rs 909.11 million. The company will sell a total of 909,101 units of shares at a face value of Rs 100 each for 10 per cent of the issued capital and 354,550 units at 10 per cent of the public issue.
Out of the total units allotted to the project-affected people, the worst affected area is Dharche Rural Municipality Ward No. 1of Gorkha. 40 percent of the residents of ward no. 4 and 5 and dharche ward no. 1of the affected area. Residents of 1, 2, 3, 6 and 6 have been allocated 60 percent. Locals can apply through the company’s office in Gorkha, Prabhu Capital’s Office in Kathmandu and online built by Capital, Himalayan Bank branch in Dharche and Prabhu Bank branch in Arughat.
Nepalis in foreign employment can apply from the banks and financial institutions participating in the ASWA service approved by the Securities Board from the shares of C-ASBA and CDSC.
Locals can apply for this IPO till June 30. If all the shares allotted to the locals are not sold within this period, the issue period can be extended till June 30.
Similarly, Nepalis in foreign employment can apply till June 15.
Prabhu Capital is the IPO sales manager of Bikas Hydropower.
