IPO Issues of These Companies are Newly Added in SEBON’s Pipeline; A Brief Look at the Companies

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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