The IPO allotment for project-affected locals of Solukhumbu District by Beni Hydropower Project Limited was completed today, 24th Baishakh 2083.
The company has an issued capital of Rs. 1.04 arba. Out of this, 20% (20,80,000 shares) has been issued to the public. From this, 10% (10,40,000 shares worth Rs. 10.40 crores) was allocated to locals affected by the project in Solukhumbu. The remaining 10% was offered to the general public, and 10% of that portion (1,04,000 shares) was reserved for Nepali citizens working abroad.
For the severely affected category, 2,839 valid applications were received for 9,58,410 units, while 420 applications were rejected. In the affected category, 6,349 valid applications were received for 8,40,890 units, and 1,078 applications were invalid. In the slightly affected category, 21,945 valid applications were received for 13,13,420 units, while 342 applications were rejected.
According to the allotment process:
- Severely affected category:
- 1,275 applicants received their requested shares (10–200 units), totaling 1,92,360 units.
- 1,564 applicants received 200 units each, totaling 3,12,800 units.
- 1,484 applicants received 10 units each.
- Affected category:
- 2,000 applicants received shares as requested (10–50 units), totaling 94,090 units.
- 4,349 applicants received 50 units each, totaling 2,17,450 units.
- 46 applicants received 10 units each.
- Slightly affected category:
- 20,800 applicants received 10 units each.
NMB Capital Limited managed the IPO issue. For locals, the minimum application was 10 units and the maximum was 10,000 units.
ICRA Nepal upgraded the company’s rating to [ICRANP-IR] BB+, which means a moderate risk of default in meeting financial obligations.
Beni Hydropower Project Limited, founded in 2016, is developing the 18 MW Upper Solu Khola Hydropower Project in Solukhumbu. The project is a run-of-river type and is currently under construction.