Kathmandu. The IPO of Buddhabhumi Nepal Hydropower Limited, which has completed pre-allotment, will be distributed on Friday.

More than 2.1 million applicants have applied for the purchase of the company's IPO, more than 35 times the number of shares. The company has sold 744,000 shares to the public through public issue from September 29 to October 30.

Before issuing the IPO to the public, the company had sold the IPO to the locals of the project-affected Nuwakot district from July 13 to September 30 and distributed it on September 16. The company has raised Rs. In the first phase, 4 lakh shares have been distributed among the residents of the project-affected areas after getting permission for the issuance of 1.2 million ordinary shares with a face value of Rs 100.

The company is constructing 4.993 MW Lower Todi Khola Hydropower Project in Nuwakot district. The total cost of construction of this project is Rs. 1.19 billion. As per the disclosed financial statements of the company for the fiscal year 2077/78, the earnings per share stood at Rs. 12.56 is negative and net worth per share is Rs. It is 71.49.