Solu Hydropower Limited has opened the first phase of its IPO from Mangsir 7, targeting project-affected locals of Solukhumbu and Nepalis working abroad with valid labor permits.
Solu Hydropower Limited has opened the first phase of its Initial Public Offering (IPO) from Mangsir 7. In this phase, the company is issuing shares to project-affected residents of Solukhumbu and Nepali citizens working abroad with official labor approval.
The company has allocated a total of 1 crore shares for project-affected locals. Of this, 40 lakh shares have been reserved for highly affected residents of Solu Dudhkunda Municipality Wards 7 and 11, and Thulung Dudhkoshi Rural Municipality Ward 1. The remaining 60 lakh shares are open to locals from other wards of Solu Dudhkunda Municipality and Thulung Dudhkoshi Rural Municipality. Eligible applicants from this group can apply for a minimum of 10 shares and a maximum of 1 lakh shares. The application deadline for locals is Mangsir 21, and if the issue is not fully subscribed within that period, applications will remain open until Poush 7.
Similarly, the company has set aside 10 lakh shares for Nepalis working abroad with valid labor permits. Applicants in this category may apply for a minimum of 10 shares and a maximum of 1 lakh shares. Applications for migrant workers will remain open until Mangsir 10.
After the completion of these two categories, the company will proceed with issuing the IPO to the general public. Nabil Investment is serving as the issue manager for this offering, which received approval from the Nepal Securities Board on Kartik 24. According to the approval, the company will issue a total of 2 crore shares worth 2 arba.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
