The IPO result of Buddhabhumi Nepal Hydropower Limited to the public on 8th October 2021 (22nd Ashoj 2078) Friday. Sales manager Civil Capital Limited has completed the pre-allotment of Buddha Bhumi's IPO. As the pre-allotment is over on Wednesday, the allotment Published on Friday (Buddha Bhumi IPO Result).
Buddha Bhumi Nepal (BNHCL) had issued 800,000 units of ordinary shares worth Rs 80 million to the public from Ashoj 11 to 14. Of that, 2 percent or 16,000 units of shares allotted for employees and 5 percent or 40,000 shares allotted for mutual investment funds, and the remaining 744,000 units of shares allotted to the general public.
According to the latest statistics, 21,11,819 applicants have applied for the purchase of 26503140 units of shares in the IPO of Buddha Bhumi Nepal. This is 35.66 times more than the 744,000 units issued for the public.
As there are more applications than demand, the shares are allotted at the rate of a minimum of 10 units as per the Securities Issuance and allotment Directive. Accordingly, out of the eligible applicants, only 74,400 applicants received 10 shares.
Accordingly, out of the total applicants, 96 percent or more than 2 million 37 thousand empty hands. This IPO of the company has been given ICRA NP Issuer rating double B minus grading by ICRA Nepal Limited indicating weak bases.
Before issuing the IPO to the public, the company had sold the IPO to the locals of the project-affected Nuwakot district from Shrawan 32 to Bhadara 15 and distributed it on Bhadra 31. The company has received permission to issue 1.2 million ordinary shares with a face value of Rs 100 per share to the public, including locals.
How to Check IPO Result of Buddhabhumi Nepal Hydropower:
Learn How to Check IPO result /allotment in Nepal. Learn the fastest and easiest way to check all companies' IPO results in Nepal. Follow a few steps to check an IPO result.
You have to follow the following instructions to check the IPO result of Buddha Bhumi Nepal Hydropower from the MeroShare (CDSC) website: iporesult.cdsc.com.np
Step 1: Log on to www.iporesult.cdsc.com.np
Step 2: You will view this type of interface on your device.
Step 3: Type your 16-digit BOID Number (Beneficial Owner Identification Number)
Step 4: Click on View Result Tab.
Finally, you will get the result message on the interface.
(Note: The IPO result will be shown after the share allotment and upload data on the server, it will take few hours after the announcement)
Other Ways to Check IPO Result of Buddhabhumi Nepal Hydropower:
1. MeroShare Official Website: https://www.meroshare.cdsc.com.np
2. Civil Capital Limited - Civil Capital IPO result (IPO Result on Civil Capital) Website: https://www.civilcapitalmarket.com/ipo
(Please select company name and provide DEMAT No. to view IPO result Select Company name and Type DEMAT Number)
IPO Detail Statement:
| The IPO Issuing Company | Buddhabhumi Nepal Hydropower Limited |
| Issue Manager | Civil Capital Limited |
| Security Type | Common Stock -IPO |
| IPO Issued Date | 2078 Ashoj 11 to 14 |
| IPO Face Value | Rs. 100 |
| Total IPO Share | 8,00,000 units |
| The share allocated for Mutual Investment (5%) | 40,000 units |
| The Share allocated for employees (2%) | 16,000 units |
| Total Share for Individual Investor (General Public = 93%) | 7,44,000 units |
| Total Applicants | 21,11,819 |
| Total Applied Units | 2,6,503,140 units |
| Total Allotted Kitta | 7,44,000 Kitta |
| Total Allottee | 74,400 applicants |
Company Details:
Buddhabhumi Nepal Hydropower Limited was registered as a private limited company in the office of the Registrar of Companies as per the Companies Act 2063 BS and as a Public Limited Company on 32nd Shrawan 2074.
The Registrar's Office of the Company is located at Kathmandu Metropolitan City Ward No. 3, Pani Pokhari Maharajgunj. The company's project site, hydropower generation center, and other physical infrastructures are located in Dupcheshwor Rural Municipality (formerly Samundratar, Kundradevi, Balkumari, and Thaprek VDCs) of Nuwakot district. The company is developing a 4.993 MW Tallo Tandi Khola Hydropower Project.
The total cost of the project is projected to be Rs 11.86 billion and Rs 238 million per MW. The company has issued 1.2 million shares (including 400,000 shares to the locals) equal to 30 percent of the issued capital of Rs 400 million or Rs 120 million.
The company has stated that the capital raised by issuing IPO will be used for partial repayment of the project loan.
At present, the company has loans of Rs 773.49 million in various banks. The amount received through IPO distribution will be partially repaid of the loan.
Capital Structure:
Currently, the company's paid-up capital is Rs 280 million. The company's paid-up capital will reach Rs 400 million after the IPO is sold to locals and the general public. The authorized capital and issued capital of the company are both Rs. 400 million.
After the IPO, 70 percent of the company's share ownership will remain with the founders and 30 percent with the general public.
Board of Directors (BoD):
The board of directors of the company has seven members. There is an arrangement to have a board of directors of 4 members from the founding shareholders, 2 members from the general shareholders, and one independent member. The tenure of the operators will be 4 years.
Purnalal Shrestha, an investor in the real estate sector and has 15 years of business experience, is the chairman of the company's board of directors. Similarly, Balram Khatiwada, Pramod Khadka, Deepak Lal Amatya, and Shekhar Kumar Subedi are members of the committee.
Currently, there are only five members on the board of directors on behalf of the founding shareholders. The company has stated that it will appoint two people and one independent operator on behalf of the general shareholders after the IPO.
Future plans and strategies:
The company has made future plans and strategies to grow its business and services. The main objective of the company is to establish itself as a leading company in the development of hydropower in Nepal.
In order to achieve its objective, the company is studying other potential projects besides the currently operating Buddhabhumi Nepal Hydropower Project with a capacity of 4.993 MW.
