Apollo Hydropower Opens IPO for Affected Locals and Nepalis Abroad

Apollo Hydropower has opened its Initial Public Offering (IPO) for affected local residents and Nepalis working abroad. The hydropower company's primary shares opened for subscription starting Monday.

The company is issuing 30 percent of its issued capital of NPR 470 million, amounting to 1.41 million shares, to the general public group. Out of this, 10 percent, or 470,000 shares, are reserved for locals in the project-affected areas.

Similarly, the company is issuing 10 percent, or 94,000 shares, to Nepalis employed overseas. Himalayan Capital is the issue manager for the company.

The affected areas include Ward No. 7 and 8 of Khijidemba Rural Municipality in Okhaldhunga District, Ward No. 2 of Likhu-Pike Rural Municipality in Solukhumbu District, and Ward No. 2 and 3 of Umakunda Rural Municipality and Ward No. 1 of Gokulganga Rural Municipality in Ramechhap District.

Locals in the affected areas can apply by the earliest date of Falgun 25 and the latest by Chaitra 10. Those working abroad can apply by the earliest date of Falgun 14 and the latest by Falgun 25.

Payment must be made at the face value of NPR 100 per share. A minimum of 10 shares must be applied for. Nepalis working abroad can apply through the online system, Mero Share.

The 6 MW capacity project is based on the run-of-the-river system. The project is nearly complete, and the transmission line work is in its final stages.