8 Hydropower Firms Receive IPO Approval in FY 2082/83; 34 Still Await SEBON’s Green Light
Nepal's securities regulator has approved IPO issuance for eight hydropower companies so far in FY 2082/83, while 34 more remain in the pipeline awaiting SEBON’s decision.
Kathmandu, July 16, 2025 — The Securities Board of Nepal (SEBON) has approved the initial public offering (IPO) issuance for eight hydropower companies during the current fiscal year 2082/83, reflecting growing interest and momentum in the sector’s capital market participation.
The approved firms include Pure Energy Ltd, Sanvi Energy Ltd, Vikas Hydropower Company Ltd, Himstar Urja Ltd, Darmakhola Hydropower Ltd, Mabilung Energy Ltd, Bungad Hydropower Ltd, and Jhapa Energy Ltd. These companies have received SEBON’s clearance to raise capital from the public to fund ongoing or upcoming hydroelectric projects.
Many of these approved issuers have already proceeded with public offerings and are either in the subscription phase or have been listed on NEPSE, signaling increased activity and investor appetite in Nepal's energy infrastructure space.
Meanwhile, 34 additional hydropower developers have submitted IPO applications to SEBON and are currently awaiting regulatory approval. Among the prominent names in the pipeline are Bhujung Hydropower Company, Embaling Hydropower Ltd, Solu Hydropower Ltd, Taksar Pikhuwa Khola Hydropower Ltd, Ridge Line Energy Ltd, Kalinchowk Hydropower Ltd, and Him River Power Ltd.
New applicants this fiscal year also include Lower Irkhuwa Hydropower Ltd, Kalanga Hydropower Ltd, Sanigad Hydropower Ltd, Apex Makalu Hydropower Ltd, and Apollo Hydropower Ltd.
The list further extends to Gaurishankar Power Development Ltd, Shikhar Power Development Ltd, Syuri Nyadi Power Ltd, Super Khudi Hydropower Ltd, Mount Everest Power Development Ltd, Ashutosh Energy Ltd, Hilton Hydro Energy Ltd, Snow Rivul Ltd, Suryakund Hydro Electric Ltd, Madame Khola Hydropower Ltd, Nilgiri Khola Hydropower Ltd, Peoples Energy Ltd, Champawati Hydropower Ltd, and Him Parbat Hydropower Ltd.
Other firms in the pipeline include Century Energy Ltd, Habitat Power Company Ltd, Numbur Himalaya Hydropower Ltd, United Mewa Khola Hydropower Ltd, Aarti Power Company Ltd, Mewa Developers Ltd, Myagdi Hydro Ltd, and Arbit Energy Ltd.
SEBON has acknowledged the growing backlog in IPO approvals, with many of these companies waiting several months. Meanwhile, Butwal Power Company Ltd had earlier submitted an application for a Further Public Offering (FPO), but the company has since decided to issue rights shares instead.
As hydropower continues to be a cornerstone of Nepal’s renewable energy strategy, the growing queue of IPO applications underlines the sector’s rising demand for capital and retail investor participation. The pace of regulatory approvals in the coming months will be critical for momentum in both energy project financing and NEPSE listings.