Upcoming IPOs and FPO in 2026: Solu Hydropower, Salapa Bikas Bank, Bhujung Hydropower, Ridge Line Energy, Suryakunda Hydroelectric, Reliance Spinning Mills and Vijaya Laghubitta

Several Nepali companies have already completed or started foreign-employment and local IPO phases in late 2025, while their general public IPOs are still pending. Here is a update on the most expected IPOs and one FPO for 2026, based only on the published news and the SEBON approval list (as on 2082/08/25).

Why these IPOs are likely to come in 2026

In Nepal, many companies—especially hydropower companies—usually issue shares in steps. They first issue to project-affected locals and Nepalese working abroad, then complete allotment and reporting, and only after that they open the remaining shares for the general public. Because several companies have already finished or started the foreign/local steps in Mangsir–Poush 2082 (December 2025 period), their general public IPO phase is expected to follow in 2026, once the earlier steps are completed.

Solu Hydropower Limited (general public IPO pending after foreign allotment)

Solu Hydropower Limited finished the IPO allotment for Nepalese citizens working abroad, and the result was published on Wed, Dec 10, 2025. The company has an issued capital of Rs. 10 Arba, and 20% is allocated to the public. Out of this, 10% is for project-affected locals of Solukhumbu and the remaining 10% is for the general public at a later date. Since the foreign-employment allotment has already concluded, the market is now waiting for the next phase, which is the general public IPO.

Reliance Spinning Mills Limited (book-building IPO; general public shares still remaining)

Reliance Spinning Mills Limited is already inside the IPO process through the book-building method. The company had earlier issued shares to Qualified Institutional Investors (QIIs), and it later opened IPO shares for Nepalese citizens working abroad from 22nd Mangsir to 25th Mangsir, 2082 (with possible extension). Out of the public portion of 11,55,960 shares, 1,15,596 shares were for foreign-employed Nepalese and the remaining 10,40,364 shares are planned to be issued to the general public later. The price for common investors is stated as Rs. 820.80 per share, and the issue manager is Global IME Capital. Because the general public portion is still pending, it is expected to continue into 2026.

Salapa Bikas Bank Limited (foreign issue opened, general public issue later)

Salapa Bikas Bank Limited opened its IPO for Nepalese citizens working abroad on Thu, Dec 11, 2025. The bank’s issued capital is Rs. 52.23 Crores, and 33% is allocated to the public. From the public portion, 10% is reserved for foreign-employed Nepalese, while a portion is set aside for employees and mutual funds. The remaining shares are reserved for the general public, which will come after the foreign-employment phase is completed.

Bhujung Hydropower Limited (local + foreign first, general public in second phase)

Bhujung Hydropower Limited published an offer letter to issue IPO shares to project-affected locals of Lamjung District and Nepalese citizens working abroad, with the issue starting from Poush 03, 2082. The company received SEBON permission for 20,00,000 shares at Rs. 100 per share. The company clearly stated that after finishing the first phase (locals and foreign-employed Nepalese), it will issue the IPO to the general public in the second phase. This step-by-step structure is one reason the general public IPO is expected in 2026 after the first phase closes and reporting is completed.

Ridge Line Energy Limited (IPO proposal approved; public issue expected after process starts)

The IPO proposal of Ridge Line Energy Limited was approved by SEBON, and the approval was issued on 22nd Mangsir, 2082, as reported on Tue, Dec 9, 2025. The SEBON approval list (as on 2082/08/25) shows Ridge Line Energy Limited under “For Local and General Public” with a 20% public issue size of 26,07,000 shares at Rs. 100. Since the approval has been granted and the issue process takes time to move from approval to opening, this IPO is also expected to be part of the 2026 pipeline.

Suryakunda Hydroelectric Limited (SEBON permission for public IPO)

Suryakunda Hydroelectric Limited received permission to issue an IPO for the general public on 25th Mangsir, 2082. The approval allows the company to issue 13,79,350 shares worth Rs. 13,79,35,000 at par value, and the issue manager is Kumari Capital Limited. Since permission has been granted and the opening process is still to be completed, the IPO is expected to move forward through 2026.

Vijaya Laghubitta Bittiya Sanstha Limited (FPO approved by SEBON)

SEBON approved the Further Public Offering (FPO) of Vijaya Laghubitta Bittiya Sanstha Limited on Mon, Dec 1, 2025. The company will issue 4,66,817 FPO shares at Rs. 100 per share. Since this is approved and intended for the public to apply like an IPO, it is also part of the upcoming market supply expected to progress through 2026.

Conclusion

Based only on the published updates you provided and the SEBON approval list (as on 2082/08/25), the companies most clearly positioned for general public offerings in 2026 are Solu Hydropower Limited, Salapa Bikas Bank Limited, Bhujung Hydropower Limited, Ridge Line Energy Limited, Suryakunda Hydroelectric Limited, and Reliance Spinning Mills Limited, while Vijaya Laghubitta Bittiya Sanstha Limited is approved for an FPO that is also expected to move forward in the same period. The key reason is that foreign and local phases are already completed or in progress in late 2025, and the general public phase usually comes after those phases finish.