Kathmandu. Bungal Hydro has got IPO approval. The Securities Board of Nepal (SEBI) has given permission to Bungal Hydro to issue an IPO on June 15.
The company has got permission to bring an IPO worth Rs 290.5 million. Accordingly, the company will issue a total of 2.9 million units of IPO at a face value of Rs 100 each.
At present, the founding group has an investment of Rs 539.5 million in the company. After the sale of the IPO, the paid-up capital of the company will reach Rs 830 million.
After the IPO sale, the founder group will hold 65 percent stake in the company and the general public will hold 35 percent shares. The ipo sale of the company is Himalayan Capital.
