Bungad Hydropower IPO Deadline Today for Foreign Workers; Extended Period for Locals

Bungad Hydropower Limited has announced that today, Shrawan 11 (July 27, 2025), is the final day for foreign-employed Nepali citizens to apply for its IPO. Meanwhile, the application deadline for local residents from project-affected areas has been extended till Shrawan 26.

The company had received approval to issue 29,05,000 ordinary shares equivalent to NPR 290.5 million, representing 35% of its issued capital of NPR 830 million. Out of this:

• 830,824 shares worth NPR 83.08 million were allocated for locals in affected areas.

  • 65% of these shares are for severely affected areas, mainly Bungad Municipality Ward 6 and 7 of Baitadi District.

  • The remaining 35% are for moderately affected areas, which include other wards of Bungad Municipality.

• 207,500 shares worth NPR 20.75 million were allocated for Nepalis working abroad, with today being the last application day.

Applicants must apply for a minimum of 10 shares and can apply for up to 20,000 shares.

IPO Rating & Project Overview:

The IPO has received a CARE-NP Single B Issuer Rating from CARE Ratings Nepal, indicating moderate risk in fulfilling financial obligations.

Bungad Hydropower is developing the 10.70 MW Upper Sanigad Hydropower Project with an estimated cost of NPR 3.02 billion. The per-MW cost stands at NPR 282.58 million. The project has 26 years and 10 months of generation license remaining.

The project’s payback period is estimated at 9.85 years, and the discounted payback period is 22.29 years.

Application Centers:

• Foreign workers can apply via ASBA-approved banks and financial institutions.

• Local residents can apply at:

  • Nepal Investment Mega Bank, Kedarsyu-1

  • Agricultural Development Bank, Bungad Municipality

  • Global IME Bank, Jayaprithvi Municipality

  • IPO Application Point at the Project Site

Local applicants must pay NPR 2 as form fee.

The issue manager is Himalayan Capital Limited.