Jhapa Energy to Launch IPO for Locals and Migrant Workers from Shrawan 14

Jhapa, Nepal | July 23, 2025 — Jhapa Energy Ltd is set to open its initial public offering (IPO) for project-affected locals and Nepali migrant workers starting Shrawan 14 (July 29). The offering aims to raise funds for its 10 MW solar project currently connected to Nepal’s national grid.

The company plans to issue:

• 380,190 ordinary shares (worth NPR 38 million) to locals of Shivsatakshi Municipality Ward No. 4, Jhapa.

  • Half (190,095 shares) allocated to those within a 100-meter radius of the project site.

  • Remaining shares will go to other residents of Ward No. 4.

Additionally,

• 57,029 shares (worth NPR 5.7 million) are allocated to Nepalis currently employed abroad with government-approved labor permits.

Investors can apply for a minimum of 10 shares and up to 5,000 shares.
The closing date for local applications is between Shrawan 28 and Bhadra 12, while migrant workers must apply between Shrawan 18 and Shrawan 28.

🔍 Project Snapshot:

• Installed Capacity: 10 MW Grid-Connected Solar

• Estimated Project Cost: NPR 879 million

• Cost per MW: NPR 87.9 million

• Electricity Generation License Validity: 22 years remaining

• Equity Payback Period: 9.55 years

• Project Payback Period: 8.06 years

• Discounted Payback: 13.46 years (equity), 15.66 years (project)

However, credit rating agency ICRA Nepal assigned the issuer a [ICRANP] B- rating, indicating high risk in debt servicing capacity.

Himalayan Capital Ltd is managing the IPO.
Local residents can apply through Himalayan Bank’s branches in Duhabi, Damak, and Surunga, while migrant workers can apply online via Mero Share or through any C-ASBA-participating banks approved by SEBON.