Today is the final day for investors to apply for the Initial Public Offering (IPO) issued to the general public by Apollo Hydropower Limited.
The company had opened the sale of 780,200 shares to the public from Chaitra 26. Investors can apply for a minimum of 10 shares and a maximum of 94,000 shares. Applications can be submitted through the C-ASBA system via banks and financial institutions or through Mero Share within banking hours.
The IPO issue and sales manager is Himalayan Capital Limited. Investors are urged to submit their applications on time, as applications are only accepted during banking hours.
Prior to this, the company had already allotted shares reserved for project-affected local residents and Nepalis working abroad. Additionally, 37,000 shares were distributed to mutual funds and 18,800 shares to company employees.
Apollo Hydropower had received approval to issue 1,410,000 shares, equivalent to 30 percent of its issued capital of NPR 570 million. Out of this, 470,000 shares were allocated to locals and 94,000 shares to Nepalis employed abroad. The remaining 780,200 shares have been made available to the general public. The face value per share is NPR 100.
The company is currently operating the 6 MW Booku Khola Hydropower Project, with an estimated total cost of NPR 1.372 billion. The cost per megawatt exceeds NPR 228.6 million. The company has stated that the simple payback period is 7.77 years, while the discounted payback period stands at 16.43 years.
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