Bungal Hydro IPO Filing Deadline Extended: What You Need to Know About This Investment Opportunity**
Bungal Hydro Limited has announced an extension to the IPO (Initial Public Offering) filing deadline. This investment opportunity is specifically for project-affected locals and Nepali citizens working abroad. If you’re looking into investing in the stock market and exploring new IPOs, then read on to get the essential details.
The initial IPO launch began on June 13th (Asar 29th in the Nepali calendar). However, due to insufficient applications from the project-affected local community, the deadline has been pushed to August 11th (Shrawan 26th). This presents a crucial opportunity for those who have not yet applied.
IPO Details and Allocation
Bungal Hydro is offering a total of 290,500 shares, approved by the Securities Board of Nepal. The initial phase focuses on two key groups:
- Project-Affected Locals: A total of 830,000 shares have been reserved.
- Nepali Citizens Working Abroad: 207,500 shares are allocated for this segment.
Important Deadlines and Application Information
The deadline for foreign employment applicants closed on July 26th (Shrawan 11th) at 5 PM after receiving a high volume of applications. However, for the local community, the extended application period continues until August 11th (Shrawan 26th).
Who Can Apply?
- Project-Affected Locals: This category is further divided:
- Highly Affected Areas: 539,500 shares are earmarked for residents of Ward 6 and 7 within the former structure of Bungal Municipality.
- General Affected Areas: 290,500 shares are for residents of Ward 1 to 5 and 8 to 11 within the Bungal Municipality.
- Nepali Citizens Working Abroad: The IPO is closed for this category.
How to Apply
Interested applicants can apply for a minimum of 10 shares and a maximum of 20,000 shares. Take advantage of this investment opportunity and apply before the deadline. Don’t miss out on this chance to invest in Nepal’s growing hydropower sector and participate in the stock market! Remember to stay updated on stock market news and IPO alerts to make informed investment decisions.
