KATHMANDU, March 22: Balefi Hydropower Limited is going to open the sale of ordinary shares to the public from October 21. The company is set to open a sale of 1,827,097 initial public offerings (IPO) at a face value of Rs 180.27 million.
Of the ordinary shares to be issued, four percent or 73,119 units of shares will be secured for the employees and five percent or 91,398 units will be distributed to the collective investment fund. The general public will be able to apply for the purchase of the remaining 1,663,453 units of shares.
According to a statement by the company, the general public will be able to apply for a minimum of 10 lots and a maximum of 100,000 lots from March 30 till April 4.
The company is currently constructing a total of 36 MW Balefi Hydropower Project on Balefi Khola in Jugal Rural Municipality of Sindhupalchowk. According to the company, the total estimated cost of the project is Rs 7.65 billion.