Apollo Hydropower Limited has opened its Initial Public Offering (IPO) today for residents of project-affected areas and Nepalis working abroad.
The company has received approval from the Nepal Securities Board to issue 14,10,000 ordinary shares worth NPR 14.10 crore, with a face value of NPR 100 per share.
Of the total shares, 10% (4,70,000 shares) have been allocated for residents of the affected areas, while 20% (9,40,000 shares) are reserved for Nepalis working abroad.
Eligible applicants from affected areas include residents of various wards in Okhaldhunga, Solukhumbu, and Ramechhap districts. Project-affected residents can apply for a minimum of 10 shares and a maximum of 47,000 shares, while overseas Nepalis can apply for a minimum of 10 shares and up to 94,000 shares.
The application period for affected area residents will run from Falgun 25 to Chaitra 10, and for overseas Nepalis from Falgun 14 to Falgun 25. Himalayan Capital has been appointed as the IPO’s issue manager.
The company has also announced that, after this first phase, it will open the IPO for the general public.
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