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The Beni Hydropower Project has launched an Initial Public Offering (IPO) aimed at both local residents and Nepalis working abroad. The company began issuing shares on Sunday.

Under the IPO, the project has allocated 1,040,000 shares, priced at Rs 100 each, worth a total of Rs 104 million, for residents in the project-affected areas. Among these, 520,000 shares are reserved for permanent residents of Solududhkunda Municipality wards 2, 3, and 4 in Solukhumbu, while 312,000 shares are set aside for wards 5, 6, 7, and 11 of the same municipality and for minimally affected locals. An additional 208,000 shares are reserved for other eligible locals.

Local residents can apply for shares until March 29, with the option to submit applications until Chaitra 30 if demand falls short during the initial period. For Nepalis working abroad, 140,000 shares worth Rs 1.5 crore have been reserved, and they can submit applications until March 19. Applicants may request between 10 and 10,000 shares per application, the IPO manager said.

The company has received approval to issue 20 percent of its authorized capital - 20,80,000 shares worth Rs 20.8 crore - out of its total capital of Rs 1.04 billion.

In its IPO rating, ICRA Nepal assigned Beni Hydropower a Double B Plus rating, indicating an average level of risk in meeting financial obligations.

The 19.8 MW Upper Solukhola Hydropower Project operated by the company has a total estimated cost of Rs 3.8551 billion.

The IPO is being managed and sold by NMB Limited.