Bhugol Energy Development Company is going to issue 13,46,993 Units of IPO Shares to the General Public from 23rd Chaitra 2079

Bhugol Energy Development Company is going to issue 13,46,993 Units of IPO Shares to the General Public from 23rd Chaitra 2079

Bhugol Energy Development Company, a well-known energy company, has issued an offer letter for its Initial Public Offering (IPO) to the general public.

The IPO will consist of 13,46,993 unit shares with a face value of Rs 100 and will available from 23rd Chaitra, 2079, with the aim of raising Rs 13.46 crore.

Investors have until the early closing date of 27th Chaitra to subscribe. With the option for an extension until 7th Baisakh, 2080, if the issue is not fully subscribed.

Previously, the company has already issued 108,811 units, to Nepalese employees working abroad. And 5% of shares, or 71,916 units, have been set aside for mutual funds.

The remaining 13,46,993 units are available to the general public. With a minimum investment of 10 units and a maximum of 30,000 units.

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NIC Asia Capital Limited has been appointed as the issue manager for the IPO issuance. And ICRA Nepal has reaffirmed an issuer rating of [ICRANP-IR] B- to Bhugol Energy Development Company Limited.

Bhugol Energy Development Company Ltd operates a 3.75-MW Dwari Khola Small Hydropower Project in Dailekh District in Karnali Province of Nepal.

The project started commercial operations on May 6, 2017, against the required COD of June 30, 2017. At a cost of approximately NPR 734 million (~NPR 196 million per MW) funded in an initial debt-to-equity ratio of ~82:18.

Bhugol Energy Development Company is going to issue 13,46,993 Units of IPO Shares to the General Public from 23rd Chaitra 2079

The company was incorporate on February 16, 2009. As a private limited company and later converted to a public ltd company on October 31, 2017, to facilitate public participation.

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The company has already issued 70% of shares to promoter shareholders. While 10% has allocated to project-affected locals of Dailekh District and Nepalese citizens working abroad.

Investors looking for promising opportunities in the energy sector can take advantage of Bhugol Energy Development Company’s IPO.

With its track record of success and the potential for future growth, this IPO could be a smart financial move. Invest today and become a part of one of the most promising energy companies in Nepal.

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