Buddha Bhumi Nepal Hydropower Company Limited has officially opened bids for its auction of unsold ordinary rights shares on 04 Ashad 2083. The auction process was managed by NIC Asia Capital Limited and conducted at Walnot Bisro, Panipokhari, Kathmandu, beginning at 8:30 AM.
The auction had originally opened on 21 Jestha 2083 and remained available until the end of banking hours on 29 Jestha 2083. Through this process, the company offered a total of 474,696 units of ordinary rights shares that remained unsubscribed during its earlier rights offering.
This auction represented the unclaimed portion of BNHC’s previously announced 1:1 rights share issuance, under which existing shareholders had been given the opportunity to purchase one additional share for every share they already held.
Both individual and institutional investors were eligible to participate in the bidding process. The company had fixed the minimum bid price at Rs. 100 per share, while applicants were required to apply for at least 100 units. There was no maximum bid limit in quantity; however, investors were required to comply with regulatory limits regarding maximum ownership concentration.
According to the auction manager, approximately 2,300 applications were received for the ordinary rights shares. Based on preliminary evaluation, the tentative cut-off price has been estimated at around Rs. 292 per share. However, the final allotment price may still change after reconciliation and clearance of submitted payments and verification procedures are completed.
At the time of the auction update, BNHC’s last traded market price stood at Rs. 325 per share, indicating that the tentative auction cut-off remains below the prevailing secondary market price.
The strong participation and premium over the base auction price suggest continued investor interest in hydropower securities despite broader market fluctuations. Final allocation details are expected after settlement and verification of applications are completed.
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