Barahi Hydropower has announced a notice about issuing an IPO for the general public from Mangsir 2079. BHPL – Barahi Hydropower Public Limited recently made an offer letter available to the general public.

Notice Date: December 4, 2022

Barahi Hydropower was founded in April 2006 as a private Limited Company. To encourage more public participation, it converted its legal status to a public limited corporation in March 2015. The company has been operating a 1.5 MW Theule Khola HEP in Nepal’s Baglung district of the Gandaki Province since July 8, 2018. The project cost NPR 374 million to complete, with a 52:48 debt-to-equity ratio as the funding source.

On 21 Mangsir 2079, Barahi Hydropower will launch an initial public offering (IPO) for the general public.

It is beginning on Mangsir 21, 2079. 5,54,000 unit shares with a face value of Rs 100 would be issued by the firm. With this IPO, the company hopes to raise Rs 5.54 crore. Mangsir 26 is the issue’s early closure date; however, if it is not fully subscribed, it may be postponed until Poush 06, 2079.

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More about Barahi Hydropower IPO

 

A total of 5,54,000 units have been allotted, with 2% and 5% of the offered shares—or 11,080 and 27,000, respectively—reserved for business employees and mutual funds. The remaining 5,15,920 units are available for general sale. The company’s paid-up capital will total Rs. 25 crores after the IPO.

The company previously offered 250,000 unit IPO shares of Rs. 25 crores to the Baglung area’s citizens, whom the project will touch from Kartik 04 to 25 Kartik, 2079. Instead, only 146,000 units, or 58.4% of the total issue, were given out to qualified candidates. And the remaining 104,000 units of unsubscribed shares are added to the 18% share reservation, which is 450,000 units, to arrive at a final figure of 5,54,000 units for the general public. The promoter owners own 72% of the total shares of the corporation.

The issue manager for the initial public offering issuance is NIBL Ace Capital. A request can have a minimum of 10 units and a maximum of 10,000 units. According to its rating, the issuer will likely immediately default on its financial commitments.

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