Apollo Hydropower Limited commenced its Initial Public Offering (IPO) today, Falgun 11, 2082 B.S., prioritizing project-affected local residents and Nepalis employed abroad with labor approval. In the first phase, shares have been allocated to residents of Okhaldhunga and Ramechhap districts, as well as Nepalis working abroad.
For local residents, the company has issued a total of 470,000 shares. Of these, 235,000 shares are reserved for the highly affected area in Okhaldhunga District, specifically Khijidemba Rural Municipality Wards 7 and 8. 141,000 shares are allocated for the moderately affected area, covering Likhupike Rural Municipality Ward 2 in Solukhumbu District and Umakunda Rural Municipality Ward 3 in Ramechhap District. The remaining 94,000 shares are for the lowly affected area, including Umakunda Rural Municipality Ward 2 and Gokulganga Rural Municipality Ward 1 in Ramechhap District.
Local residents can apply for a minimum of 10 shares and a maximum of 47,000 shares. The application period is initially open until Falgun 25, with a possible extension until Chaitra 10 if sufficient applications are not received.
For Nepalis employed abroad with labor approval, 94,000 shares have been allocated. Applicants in this category can apply for a minimum of 10 shares and a maximum of 94,000 shares, with the final application date set for Falgun 14.
Following the first phase, the company plans to issue shares to the general public. Himalayan Capital Limited is the IPO’s issue manager and sales arranger.
Earlier, the Nepal Securities Board (SEBON) granted approval for the IPO on Magh 20, 2082 B.S. In total, the company will issue 1,410,000 shares, raising NPR 141 million.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
