Beni Hydropower to Open IPO for General Public from Bhadra 22

KATHMANDU: Beni Hydropower Project Limited is set to open its initial public offering (IPO) for the general public starting Bhadra 22, offering shares at a face value of Rs 100 per unit. Having already completed the allocation process for project-affected local residents and Nepalis working abroad in the first phase, the company is now rolling out its public offering to secondary retail investors.

The company secured regulatory approval to issue 20 percent of its total issued capital of Rs 1.04 billion, amounting to Rs 208 million. Out of this total pool, shares designated for local residents, foreign-employed citizens, corporate employees, and mutual funds have already been successfully distributed. Consequently, the upcoming window will make the remaining 863,200 units of ordinary shares available to the general public.

According to NMB Limited, the issue manager, interested investors can apply for a minimum of 10 units up to a maximum of 10,000 units. The IPO application window will close early on Bhadra 25 if fully subscribed, but can extend up to Ashwin 5 if demand falls short. ICRA Nepal has assigned the issuer a rating of 'ICRA NP-IR Double B Plus', indicating a moderate level of risk regarding the company's capability to meet financial obligations.

Beni Hydropower currently operates the 19.8 MW Upper Solu Khola Hydropower Project. Retail investors can submit their applications through all C-ASBA member banks and financial institutions licensed by the Securities Board of Nepal (SEBON), as well as via the online 'Mero Share' platform managed by CDS and Clearing Limited.