SEBON has added the proposed IPO issue of Balephi Hydropower Limited and Green Ventures Limited to its pipeline.

Balephi Hydropower Limited

Incorporated on February 15, 2012, as a private limited company, Balephi Hydropower Limited (BHL) was converted into a public limited company on January 6, 2017, to facilitate public participation. The paid-up capital of the company, at June-end 2019, was ~NPR 1,462 million and was fully held by the promoters.

After the proposed IPO, the same would reach ~NPR 1,828 million. The major promoters include Mr. Shakti Kumar Golyan (18.25%), Mr. Shulav Agrawal (18.25%), Mr. Shushil Gupta (17.50%), Mr. Shandeep Kumar Sharda (15%), Mrs. Prabha Goyanka (Bhimshariya) (9.95%), and Mr. Umesh Kasaju (8.68%). After the proposed IPO issue, the promoter holding is expected to dilute to 80%, assuming full subscription of all the issues by the public.

ICRA Nepal has assigned a grading of [ICRANP] IPO Grade 4+ to the proposed initial public offering (IPO) of Balephi Hydropower Limited (BHL), indicating below-average fundamentals. ICRA Nepal assigns IPO gradings on a scale of 1 to 5, with Grade 1 indicating strong fundamentals and Grade 5 indicating poor fundamentals.

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