IPO Proposal of Beni Hydropower Project Approved by SEBON

The Securities Board of Nepal (SEBON) has granted approval to the Initial Public Offering (IPO) proposal of Beni Hydropower Project Limited. The approval was granted on Magh 29, 2082.

According to the approved proposal, the company will issue a total of 2.08 million unit shares to the general public. The shares will be offered at a par value of Rs. 100 per unit.

NMB Capital Limited has been appointed as the issue manager for the public offering.

ICRA Nepal has upgraded the issuer rating of Beni Hydropower Project Limited (BEPL/the company) to [ICRANP-IR] BB+ (pronounced ICRA NP Issuer Rating Double B Plus) from [ICRNAP-IR] BB (pronounced ICRA NP Issuer Rating Double B). Issuers with this rating are considered to have a moderate risk of default regarding timely servicing of financial obligations.

Beni Hydropower (P.) Ltd is a hydropower development company founded in 2016. The company is developing the Upper Solu Khola Hydropower Project, a run-of-river type project with a licensed capacity of 18 MW. The project is located in Beni (Salleri), Solukhumbhu district of Nepal and is currently under construction.