Him Parbat Hydropower Limited opened its initial public offering (IPO) on Kartik 11 for residents of project-affected areas and Nepalis working abroad. The company has offered a total of 2,112,500 shares to these two groups in the first phase.

The company has received approval to issue shares worth Rs. 591.5 million, equivalent to 35% of its issued capital of Rs. 1.69 billion. The IPO comprises 5.915 million shares with a face value of Rs. 100 per share.

Who Can Apply?

A total of 1.69 million shares have been reserved for residents of project-affected areas. Of these, 1.014 million shares are allocated to residents of Bigu Rural Municipality wards 5, 6, 7 and 8, and Kalinchowk Rural Municipality wards 2, 3 and 4 in Dolakha district. The remaining 676,000 shares are available to residents of other wards within these two rural municipalities.

Another 422,500 shares have been reserved for Nepalis working abroad. Applicants must be employed overseas with valid labour approval from the relevant authority.

Application Limits and Deadlines

Applicants in both categories can apply for a minimum of 10 shares and a maximum of 10,000 shares. For local residents, the early closing date is Kartik 25, while the extended deadline is Mangsir 10. For Nepalis working abroad, the early closing date is Kartik 16, with an extended deadline of Kartik 25.

Where to Apply

Local residents can submit applications through Nepal Investment Bank, Sindhu Development Bank and Prabhu Bank’s Singati branches, the Sunakhani Extension Counter of Laxmi Sunrise Bank, and the Charikot branch of Citizens Bank.

Nepalis working abroad can apply through designated branches of banks and financial institutions participating in the C-ASBA system or through CDSC’s Mero Share platform. Citizens Capital Limited is the issue and sales manager for the IPO. Applications opened at 10 a.m. on Kartik 11.