IPO of Bindhyawasini Hydropower being public tomorrow, how many applications?

Bindhyawasini Hydropower is going to open IPO sale to the project affected locals from tomorrow. The company has sold 700,000 shares in wards 5, 6 and 7 of Kwaholasothar village in Lamjung district and Madi village in Kaski district. The locals of 8th and 9th are going to issue 10% of the issued capital i.e. 1 million shares.

The company has received permission from the board on April 9 to issue 2.5 million IPOs. In the first phase, the company is going to issue IPO for the locals. After that, in the second phase, IPO will be issued to the public. The sales manager is Sanima Capital Limited. Applications can be made for a minimum of 10 lots and a maximum of 100,000 lots at the rate of Rs 100 per lot in the said IPO.

Applications for the company’s IPO can be submitted as early as April 10 and as late as May 25. Rating agency Care Nepal has given the company’s IPO an ‘Issuer Rating Double B Plus’, which indicates an average risk in the company’s ability to bear liabilities.

Applications from local Lepal Securities Board C-ASWA licensed banks and financial institutions and their branch offices as well as applications from Sanima Bank’s Virota and Pokhara branches, Civil Bank’s Maling branch, Kamana Seva Vikas Bank’s Kaski and Besishahar branches, Pokhara Finance’s Pokhara and Besishahar branches and project workplaces.

Can give Bindhyawasini Hydropower Development Company Limited (BHDC) has entered into an agreement on two cascade projects of Rudy A (8.8 MW) and Rudy B (6.6 MW) to develop, operate and maintain 15.4 MW project through Rudy Khola corridor in 2057. It was merged on 09/03. BHDC has an authorized share capital of Rs 200 crore.
BHDC focuses on developing and implementing affordable renewable energy projects to increase productivity and improve Nepali living standards.

Rudikhola-A Small Hydropower Project (8.8 MW) is located in Mizuredanda VDC, Kaski District. Rudy-A is a run-of-the-river type project located at the top of the small hydropower project. The main part of Rudi-B Small Hydropower Project is located in Pasgaun VDC of Lamjung district.