Buddha Bhumi Hydropower IPO Opening

Buddha Bhumi Nepal Hydro Power Company Limited

The public offering of Buddha Bhumi Hydropower is opening today. What do the financials say about the company?

Buddha Bhumi Nepal Hydropower Company Limited (BBHCL) was incorporated as a private limited company in October 2007 and converted to a public limited company in August 2017 to facilitate public participation.

As of mid-April 2019, the company had a paid-up capital of *NPR 277 million (including share application money of ~NPR 191 million). 79 people are involved in promoting the company. 

If the IPO is fully subscribed, the promoter holding will diminish to 70 percent. Stock exchanges are proposed to list the shares of the company following the proposed IPO. In Nuwakot district, Province-3 of Nepal, BNHCL is developing, among other things, a 4.993-MW hydroelectric project.

About the Issue:

Ashwin 11 is offering 8,00,000 units of ordinary shares worth Rs. 8 crore to the public by Buddha Bhumi Hydropower Company Limited. It is expected that the issue will close before Ashwin-14, 2078. Issue #108 will be extended to Ashwin 24 if it does not reach full subscription by Ashwin-14, 2078.

From Ashwin-11, 2078, the company plans to issue 800,000 units of shares, or 20% of the total issued capital. Over 800,000 units were allocated to mutual funds. This represents 5% of the total. In total, 14000 units belong to company employees, and 744,000 belong to the general public.

An application for at least 10 units and at most 50,000 units can be placed.

The IPO issue manager is Civil Capital Limited.

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