|Company||Bhugol Energy Development C Ltd.|
|Issue Manager||NIC Asia Capital Ltd|
|IPO||Local and Foreign Nepali Workers|
|Opening Date||20th February 2023|
|Closing Date||09th March 2023|
|Extended Date||21st March (For Locals Only)|
|General Public Issue||10,88,107|
|Reserve for Locals||544,053|
|Reserve for Foreign||1,08,811|
|promoter-public share ratio||70: 30|
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.