Bhagawati Hydropower Development Company will issue an initial public offering (IPO), with Siddhartha Capital serving as the issue manager.

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Bhagawati Hydropower Development Company Limited has announced that Siddhartha Capital Limited has been appointed as the issue manager for the company’s initial public offering (IPO). The agreement signing program took place Friday, December 31st, 2021, at a location to be determined.

 

Bhagawati Hydropower Development Company Limited intends to issue a total of 14,30,162 shares in a public offering, according to the company’s website. There will be a total of 5,72,064 shares granted to project-affected residents and a total of 8,58,098 shares to the general public. The initial public offering (IPO) would raise a total of Rs. 14,30,16,200, which will account for 25 of the company’s paid-up capital.

Approximately 10% of the paid-up capital will be provided locals, the remaining 15% being contributed the general public as part of this initial public offering.

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