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Barahi Hydropower Public Limited Issued IPO for Public

News 07 Dec 2022 1854 0

Initial Public Offering IPO

Barahi Hydropower Public Limited has opened the issue and sale of ordinary shares to the general public. The company has opened initial public offering (IPO) sales to the general public from Wednesday, 21st Mangsir 2079 (7th December 2022).

The company has issued a total of 554,000 shares at a nominal rate of Rs 100 per share. Previously, out of the 250,000 shares allocated for the residents of the project-affected areas, 146,000 shares were distributed to the designated residents and a total of 554,000 shares were issued to the general public, including the remaining 100,400 shares.

Barahi Hydropower Public Limited has allotted 27700 shares to Mutual Investment Fund and 11080 shares to the employees of the company and the public can apply for the purchase of the remaining 515220 shares.

According to the public invitation letter, it is mentioned that ordinary investors can apply for the purchase of a minimum of 10 shares to a maximum of 10,000 shares until the 26th of Mangsir 2079, and if no application is received as per the demand during that period until the 6th of Poush.

Investors can apply through the ASWA system from the banks and financial institutions participating in the ASWA service licensed by the Nepal Securities Board and also through MeroShare's website and mobile app.

The company has constructed the Theule Khola hydropower project with a capacity of 1.5 megawatts in the Theule Khola in Jaimini Municipality Ward No. 1, 4, and 5 of Baglung.

NIBL Ace Capital Limited is the company's share issue and sales manager. The company has been given the 'ECRANP - IRB Minus' grading by ECRA Nepal.