IPO Result of Barahi Hydropower. For its initial public offering, Barahi Hydropower Public allotted shares to eligible applicants; nevertheless, 41.6% of the shares remained unsold. The local Baglung district inhabitants who would be impacted by the project have received IPO shares from Barahi Hydropower Public Limited. On 7 Mangsir 2079, the allotment scheme came to an end.
The company also issued 250,000 unit IPO shares, or 10% of its issued capital of Rs 25 crore, to the citizens of the Baglung district who would be impacted by the project, commencing on Kartik 4 and set to end on Kartik 18, 2079. Although it wasn’t fully subscribed before the early closure date, the deadline was extended to 25 Kartik in 2079. Local residents who were interested in participating should submit applications for 10 shares or up to 10,000 shares. The issue manager is select as NIBL Ace Capital.
According to the notification released today. Only 146,000 units, or 58.4% of the entire issue, have been allocated to qualified applicants. Thus, the remaining 104,000 shares, or 18% of the company’s issued capital. Will soon be distributed to the general public together with 450,000 shares. ICRA Nepal has given Barahi Hydropower Public Limited (BHPL/the company) an issuer rating of [ICRANP-IR]. B- (pronounced ICRA NP issuer rating B minus). Issuers with this rating are seen to have a high possibility of promptly defaulting on their financial obligations.
About the Company: – IPO Result of Barahi Hydropower
Barahi is establishing in April 2006 as a private Limited business. It changed its status to a public limited company in March 2015 to allow for greater public participation. Five years after the required commercial operation date (RCOD) of 10 May 2013. The company has been operating a 1.5 MW Theule Khola HEP in the Baglung district. Gandaki Province of Nepal since July 8, 2018. At a cost of NPR 374 million funded in a debt-to-equity mix of 52:48. The project is of the run-of-the-river (R-o-R) type, with a 40% likelihood of exceeding expectations (Q40).
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