Bhugol Energy Development IPO Open – Local and Foreign Worker

CompanyBhugol Energy Development C Ltd.
Issue ManagerNIC Asia Capital Ltd
IPOLocal and Foreign Nepali Workers
Opening Date20th February 2023
Closing Date09th March 2023
Extended Date21st March (For Locals Only)
General Public Issue10,88,107
Reserve for Locals544,053
Reserve for Foreign1,08,811
promoter-public share ratio70: 30
Bhugol IPO Opening for Locals and Foreign Nepali Workers

Bhugol Energy Development IPO Opening

The initial public opening for Bhugol Energy opened on 20th February 2023 and will continue until 9th March 2023.

The IPO will be open for Locals and Foreign Workers who are officially registered as a remittance account can apply for this IPO.

IPO Opening for Locals

The company has released in its press releases that they are issuing 10% of the total company’s units to the Locals who were affected by the project.

10% i.e. 544,053 unit shares worth Rs. 5.44 crores have been allocated to project-affected locals of Dailekh District.

If the company fails to gain enough applications for 17 days, then there will be an extension until 21st March 2023 for Locals Only.

IPO Opening 10% Quota for Foreign Nepali Workers

As always if you are living abroad then you can apply for this IPO from your abroad quota which is 10% of your remittance account.

Nepali People living in UAS, Qatar, or other nations with proper work permits can apply.

10% of the general public quota is put aside, totaling 108,811 unit shares allocated for Nepalese citizens working abroad.

IPO Application Process for General Public

As seen above Bhugol Energy Development Company Limited plan to open its IPO until 21th March 2023, so we can assume IPO for the general public will take some time.

Rating of the Company

You can view the details report here.

blugon ipo rating
Rating for IRCA (Screenshot)

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