Solu Hydropower Limited has opened the first phase of its IPO from today, Mangsir 7. In this phase, the company is issuing shares to project-affected residents of Solukhumbu and Nepalis currently working abroad with valid labour approval.
Shares for Project-Affected Locals
The company has allocated a total of 1 crore shares for project-affected locals.
The allocation is divided as follows:
Category Allocation
Highly affected residents of Solu Dudhkunda Municipality Ward 7 and 11, and Thulung Dudhkoshi Rural Municipality Ward 1 40 lakh shares
Other residents of Solu Dudhkunda Municipality and Thulung Dudhkoshi Rural Municipality 60 lakh shares
Locals can apply for a minimum of 10 units and up to 1 lakh units.
Applications for this group will remain open until Mangsir 21, and may extend until Poush 7 if the demand is insufficient.
Shares for Nepalis Working Abroad
A total of 10 lakh shares has been set aside for Nepalis working overseas with labour approval.
They can also apply for a minimum of 10 units and a maximum of 1 lakh units.
Applications for this group will remain open until Mangsir 10.
Next Phase for General Public
After completing the IPO process for these two groups, the company will issue shares to the general public.
Nabil Investment is the issue manager for this IPO.
Nepal Securities Board approved the issuance on Kartik 24, allowing the company to offer 2 crore shares worth 2 arba in total.
The IPO application will be available from 10:00 AM today.