Bhugol Energy Development and Dolti Power Company, the Company’s initial public offering (IPO) requests, have finally been authorized by SEBON. The Company released a notice regarding the acceptance of the IPO request by SEBON.
Notice Date: February 12, 2023
Dolti Power Company Limited was founded as a private ltd organization on April 7, 2013. After that, it became a public limited corporation on July 15, 2021. On February 16, 2009, Bhugol Energy Development Company Ltd. was founded. The Company changed from a private limited company to a public limited corporation to allow public participation. The Company manages the 3.75 MW Dwari Khola Small Hydropower Project in the Dailekh District of Nepal’s Karnali Province.
More about The Dolti Power Company and the Bhugol Energy Development Company’s initial public offering (IPO) requests have finally been authorized by SEBON.
The Securities Exchange Board of Nepal has approved Dolti Power Company Limited and Bhugol Energy Development Company Limited (SEBON)’s IPO. Both initiatives were supported on Magh 16. Dolti Power Company will now issue 1,609,458 equity shares with a par value of NPR 100 each. The issue had a value of 16.09 billion rupees, which amounts to 30% of the corporation’s total outstanding capital.
At a par value of NPR 100 apiece, Bhugol Energy Development Company will now issue 16,32,160 equity shares. The offering is worth a total of 16.32 crore rupees. This represents 30% of the total outstanding capital of the firm. After the IPO allocation, the Company’s total paid-up capital will be Rs 54.4 crore. The issue manager is NIC Asia Capital.
The project, which had a debt-to-equity funding ratio of 66:34 and a total development cost of NPR 1,101 million (or NPR 245 million per MW), began operating in a commercial capacity on December 24, 2019, as opposed to the RCOD of February 20, 2021.
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