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Balephi Hydropower Company Limited IPO for Project-affected Locals

News 06 Feb 2022 3090 0

Initial Public Offering IPO

Balephi Hydropower Company Limited is going to open an IPO issue and sell from the 27th of Magh 2078 (10th February 2022). The company is planning to issue an IPO for the residents of the project-affected areas.

Balephi Hydropower is going to issue 18 lakh 27 thousand 970 ordinary shares with a face value of Rs 100 per share. Out of the total shares to be issued, 60 percent or 10 lakh 96 thousand 782 units are for the residents of Jugal Rural Municipality (Ward Nos. 2, 3, 4) of the project affected area Sindhupalchok district and the remaining 40 percent or 731 thousand 188 units are for Jugal Rural Municipality (Ward no. 5 and 7), for the residents of Ward No. 1, 3, 6 and 7 of Balephi Rural Municipality and Ward No. 7 of Sunkoshi Rural Municipality.

The eviction will be stopped on the 12th of Falgun sooner and later on the 27th of Falgun. Applications for IPO can be submitted from Kumari Bank's Jalbire Branch, NCC Bank's Bande Branch, Global IMA Bank's Chautara Branch, Laxmi Bank's Chautara, and Khadichaur Branch Offices. In addition, applications can be submitted from all C-ASWA member banks and financial institutions and their branch offices approved by the Nepal Securities Board.

The issue and sale manager of the company is Global IME Capital Limited. Investors will have to apply for a minimum of 10 units of shares and a maximum of 100,000 units.

ICRA Nepal has given ICRA NP Issuer rating double B rating to the company in the rating given for IPO issue. This indicates a moderate risk in the company's ability to bear responsibility.