Bindhyabasini Hydropower Development Company (BHDCL) Concludes Allotment for Locals IPO Issue on Jestha 11

Bindhyabasini Hydropower Development Company Limited (BHDCL) has allotted 10,00,000 units IPO shares issue to the project-affected locals' residents of Lamjung and Kaski District on 11th Jestha. The company is refunding money to non-allottees/ partial allottees from 16th Jestha.

The company issued 10,00,000 unit IPO shares to the project-affected locals of Lamjung and Kaski District from 11th Baisakh and decided to close the issue on Baisakh 27 as the issue was oversubscribed. Locals of wards no. 5, 6, and 7 of Kwhlosothar Rural Municipality in Lamjung and wards no. 8 and 9 of Madi Municipality in Kaski were allocated with 7 lakh shares. Whereas, the remaining 3 lakh shares were for the other residents of Kwhlosothar Municipality and Madi Municipality.

Interested locals could place their applications for a minimum of 10 units and a maximum of 1,00,000 units. Sanima Capital Limited was appointed as the issue manager for the IPO issuance. CARE Ratings Nepal has assigned a double B plus issuer rating [CARE-NP BB+ (Is)] to the company. Companies with this grading are considered to have a moderate risk of default regarding timely servicing of financial obligations.

Applicants can get more info regarding allotment via the respective website of the issue manager, issuer company, or Meroshare. Soon, the company will float IPO to the general public as well. 

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