People's Energy seeks SEBON approval for IPO

Kathmandu, August 8: People's Energy Limited has requested approval from the Securities Board of Nepal (SEBON) to issue an Initial Public Offering (IPO). 

The company aims to issue 6.6 million shares at a fixed price of Rs 100 each to project-affected individuals and the general public. Krishna Prasad Acharya, Executive Chairman of People's Energy Limited, confirmed that all necessary procedures are complete and the application has been submitted to SEBON.

Sanima Capital is managing the sale, while Citizen Investment Fund is underwriting the shares. The Electricity Regulatory Commission approved the IPO on August 6. Once SEBON grants permission, the IPO issuance will proceed.

The company is constructing the 48.8 MW Khimti-2 hydropower project along the Khimti river, which spans Dolakha and Ramechhap. According to People’s Company Secretary Janardan Aryal, construction of key components, including headworks, intake, tunnels, and the powerhouse, is nearing completion, with a target completion date of late 2024 or early 2025. The installation of hydromechanical and electromechanical equipment, as well as the 132 KV transmission line for the Garjang-Khimti substation, is also underway.