SEBON has finally approved the IPO proposals of the Dolti Power Company and the Bhugol Energy Development Company.
The proposed initial public offering (IPO) of Dolti Power Company Limited and Bhugol Energy Development Company Limited has been approved by the Securities Exchange Board of Nepal (SEBON). On Magh 16, both propositions were accepted.
At a par value of NPR 100 per share, Dolti Power Company will now issue 1,609,458 equity shares. The issuance is worth Rs. 16.09 billion. This represents 30% of the outstanding capital of the corporation.
After the IPO allocation, the company’s total paid-up capital will be Rs 53.64 crore. The IPO’s issue manager is NIC Asia Capital Ltd.
Dolti Power Company Ltd was first establish on April 7, 2013, as a private ltd corporation. Then on July 15, 2021, it underwent a conversion to become a public ltd company. In the Dailekh district of Nepal’s Karnali province, DPCL runs a 4.5 MW Padam Khola run-of-river (R-o-R) HPP with a Q40 probability of exceedance and a 2.27 m3/s design discharge.
The project, which had a total development cost of NPR 1,101 million (or NPR 245 million per MW) and was funded in a debt-to-equity ratio of 66:34, started operating in a commercial capacity on December 24, 2019, as opposed to the RCOD of February 20, 2021.
At a par value of NPR 100 per share, Bhugol Energy Development Company will now issue 16,32,160 equity shares. The issuance is worth Rs. 16.32 crore. This represents 30% of the outstanding capital of the corporation. After the IPO allocation, the company’s total paid-up capital will be Rs 54.4 crore. The issue manager is NIC Asia Capital.
About the Company: – SEBON has finally approved the IPO proposals
Bhugol Energy Development Company Ltd was establish on February 16, 2009. As a private limited company, then on October 31, 2017, it changed its status to become a public limited company to enable public involvement. The firm runs the 3.75 MW Dwari Khola Small Hydropower Project in Nepal’s Karnali Province’s Dailekh District.
The project started operating commercially on May 6, 2017, instead of the necessary COD of June 30, 2017, and it was created for a total cost of NPR 734 million (NPR 196 million per MW), funded in an initial debt-to-equity ratio of NPR 82:18.
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