Bhugol Energy Development Corporation opened its IPO at eight falgun for Nepalese workers abroad and locals impacted by the project. On February 16, 2009, Bhugol Energy Development Company Ltd was founded, then on October 31, 2017, as a private limited business. It modified its status to allow public participation and became a public limited corporation.
Notice Date: February 23, 2023
The business runs the 3.75-megawatt Dwari Khola Small Hydropower Project in Nepal’s Dailekh District. The project’s initial debt-to-equity ratio was NPR 82:18, with a total cost of NPR 734 million (or NPR 196 million per MW). Against the necessary COD of June 30, 2017, and started conducting business on May 6, 2017.
More about Bhugol Energy Development Corporation opening its IPO at eight falgun for Nepalese workers abroad and locals impacted by the project.
Bhugol Energy Development Company Limited will release its initial public offering (IPO) to the project-affected residents of Dailekh District and Nepalese nationals working abroad from 8 Falgun until 25 Falgun, 2079.
It should be emphasized that if the early closing date is not fulfilled, the issue may be extended for residents of the Dailekh District until the seventh Chaitra. Yet, the problem will only last through the early closing date for Nepali citizens working abroad. 10% of the Company’s Rs. 54.40 crores in issued capital, or 544,053 unit shares worth Rs. 5.44 crores, have been given to Dailekh District people impacted by the project.
10,88,107 unit shares, or 20% of the Company’s outstanding stock, will be issued later. For Nepali nationals working abroad, 10% of the shares, or 108,811 units, of this public offering have been set aside; the offering will start today. Applications must be submitted in at least ten teams and up to 30,000 units from project-affected locals and Nepali nationals living and working abroad. NIC Asia Capital Ltd. is the issue manager.
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