KATHMANDU

Buddhabhumi Nepal Hydropower Company is going to issue an IPO worth Rs. 120 million. The company has sought permission from the Nepal Securities Board to issue an IPO. The company has sought permission to sell the project to both the affected locals and the general public. The IPO sale at the rate of Rs 100 per share will be done by Civil Capital Market.

Rating agency ICRA Nepal has given a ‘Grade 4 Plus’ rating to Buddhabhumi’s IPO, which is below average. It is constructing 4.993 MW Lower Tadi Khola Hydropower Project in Nuwakot district. In the first phase, the project affected people of Nuwakot and in the second phase, the IPO will be sold to the public.