Bhugol Energy Development Company Limited is currently offering its IPO for Nepalis who are employed abroad and for local residents of the project-affected areas. The IPO will close on Falgun 25th for Nepalis employed abroad and on the 7th of Chait for local residents. The company has issued 544,053 shares of ordinary shares worth Rs 544 lakh 5300 to local residents of the project-affected areas, with a minimum application of 10 shares and a maximum application of 30,000 shares.
ICRA Nepal has given the company a high-risk rating of IcraNP IRB minus for its ability to meet its obligations. The company is promoting the 3.75 MW Dwari Khola hydropower project, with a total estimated cost of Rs 73 crore 19 lakh 78 thousand 808, and the Utsima megawatt, with a total estimated cost of Rs 19 crore 51 lakh 94 thousand 349. Local residents can apply at the project site or designated branch offices of participating banks. Nepalese who are employed abroad can apply through the CSBA system from participating banks and financial institutions.
Published by NIC Asia Capital on 2079-11-25