Bungal hydropower completes IPO share allotment for project-affected areas

Bajhang: Bungal Hydropower Company Limited has completed the allotment of ordinary shares (IPO) for project-affected areas. The allotment was finalized on Bhadra 5, according to Himalayan Capital Limited, the sales manager for the company.

A total of 110,560 shares were distributed to 196 applicants from highly affected areas, while 719,440 shares were allotted to 1,771 applicants from generally affected areas, bringing the total number of beneficiaries to 1,967. Applicants who did not receive shares will have their amounts refunded to their respective bank accounts, with details available on the Himalayan Capital website.

Bungal Hydropower had offered 35 percent of its issued capital of Rs. 83 million—equivalent to 29,05,000 shares or Rs. 29.05 crore—to the public.

Of the shares allocated to project-affected areas, 539,500 units were allotted to residents of Bungal Municipality-6 and 7. Additionally, 290,500 units were allocated to locals from Bungal Municipality-1, 2, 3, 4, 5, 8, 9, 10, and 11.