Bhujung Hydropower to Open IPO from December 18, 2025

Bhujung Hydropower Limited is set to issue its Initial Public Offering (IPO) from December 18, 2025 (Poush 3) for the project-affected local residents and Nepali citizens currently working abroad with valid labor permits. The company had received approval to issue 20% of its paid-up capital—2 million shares worth Rs. 200 million at a face value of Rs. 100 per share. Out of this, 1 million shares have been reserved for the residents of the project-affected areas. Of the reserved shares, 60% will be allotted to the directly affected residents of Kwholasothar Rural Municipality Ward No. 4 of Lamjung district, while the remaining 40% will go to the indirectly affected residents of wards 1 to 9 of the same municipality.

Similarly, 100,000 shares, which represent 10% of the public quota, will be issued to Nepali workers abroad who have received labor permits from the Nepali government. Applicants can apply for a minimum of 10 shares and a maximum of 50,000 shares. The IPO for affected locals will close early on January 1, 2026 (Poush 17) and late on February 14, 2026 (Magh 2), while the issue for migrant Nepalis will close early on December 22, 2025 (Poush 7) and late on January 1, 2026 (Poush 17).

ICRA Nepal has assigned the company a rating of ICRANP Issuer Rating Single B+, indicating high credit risk. The total cost of the company’s 7.5 MW Upper Midim Hydropower Project stands at approximately Rs. 1.80 billion, with a per-megawatt cost of around Rs. 249 million. The project has 30 years of generation license remaining, with a simple payback period of 9.65 years and a discounted payback period of 16.09 years. The project has been generating electricity since Baisakh 6, 2081.

Kumari Capital Limited is serving as the issue and sales manager. Local residents can submit their applications through Kwholasothar Rural Municipality offices, Kumari Bank, Sanima Bank, Prabhu Bank, Machhapuchchhre Bank’s Besisahar branch, and the company’s Samakhusi office in Kathmandu. Nepalis working abroad can apply through all C-ASBA member banks and financial institutions authorized by the Securities Board of Nepal.