Bhugol Energy IPO closing today for Nepalese Employed Abroad & Locals Deadline is Extended till 7th Chaitra
Bhugol Energy Development Corporation has extended the deadline for residents impacted by the project until 7th Chaitra, 2079.
And is closing the offer of its IPO to Nepalese people working abroad as of today, 25th Falgun. The problem had begun on Falgun 8, 2079.
10%, or 544,053 unit shares worth Rs. 5.44 crores, of the company’s Rs. 54.40 crores in issued capital have been given to Dailekh District residents who will be impacted by the project.
A later date will see the issuance of 10,88,107 unit shares, representing 20% of the company’s outstanding capital. In this public offering, which closes today, 10% of the shares, or 108,811 units, have been designated for Nepalese nationals working overseas.
For both project-affected residents and Nepali nationals working abroad, the lowest application amount is 10 units, while the maximum application quantity is 30,000 units.
As the issue manager, NIC Asia Capital Ltd is chosen. A total of 483,740 units have received 16,683 applications through Nepali nationals working overseas, according to CDSC.
The problem has therefore already received 4.44 times as many orders as it can handle. ICRA Nepal has updated Bhugol Energy Development Company Limited’s issuer rating to [ICRANP-IR] B- (pronounced ICRA NP issuer rating B zero).
Issuers with this grade are thought to be at significant risk of failing to make timely payments on their debts.
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