Kathmandu. Nepal Securities Board Sebon has given permission to Bhujung Hydropower Limited to issue an initial public issue IPO to the general public. Sebon has given approval to the company to issue 2 million shares with a face value of Rs 100 per share.

The IPO project will be open to the general public including the affected locals. Kumari Capital Limited is the issuing and selling manager of this IPO. Currently, the founding group owns 80 percent of the shares in Bhujung Hydropower. The company's current paid-up capital of Rs 80 crore will increase to Rs 1 billion after the IPO.

The company has completed the construction of the 'Upper Midi Hydroelectric Project' with a capacity of 7.5 MW in Lamjung District. According to the company, the project has been put into commercial production since May 6, 2081. Bhujung Hydropower received the power generation license on 26 August 2076, which will be valid until 25 August 2011. After the release of this IPO, it is expected that the investment structure of the project will be further strengthened and the long-term financial capacity of the company will improve.