Beni Hydropower IPO: Public Offering Enters Final Day — 863,200 Shares Up for Grab

Beni Hydropower Project Limited’s initial public offering (IPO) for the general public has reached its final day of application. The company is issuing 863,200 ordinary shares at a face value of NRS 100 per share, equivalent to NRS 86.32 million. The IPO is the second phase of the company’s public offering, following the allocation of shares to local residents of the project-affected areas, Nepalis working abroad, company employees, and mutual funds. The company had received approval to issue shares equivalent to 20% of its issued capital of NRS 1.04 billion, or 2.08 million shares in total. Of these, 1.04 million shares were allocated to project-affected locals and 104,000 shares to Nepalis employed abroad. Similarly, 20,800 shares were reserved for company employees and 52,000 shares were allocated to mutual funds. For the general public, the company has now offered 863,200 shares, with investors required to apply for a minimum of 10 shares and a maximum of 10,000 shares. For the IPO rating, ICRA Nepal has assigned the company an ICRA NP Issuer Rating [Double B Plus], indicating a moderate level of risk in the company’s ability to meet its financial obligations. Beni Hydropower operates the 19.8 MW Upper Solukhola Hydropower Project, which has an estimated total project cost of approximately NRS 3.86 billion, with an estimated cost of around NRS 194.71 million per MW. The project’s electricity generation license has approximately 24 years remaining. Its estimated simple payback period is 5.78 years, while the discounted payback period stands at 8.15 years. NMB Limited is the issue and sales manager for the IPO. Eligible investors can apply through C-ASBA from participating banks and financial institutions and their designated branches, as well as through the Mero Share online platform operated by CDS and Clearing Limited.