Bikash Hydropower Company Limited has received approval from the Securities Board of Nepal (SEBON) to launch its Initial Public Offering (IPO). The company plans to issue 4,454,596 equity shares at a face value of NPR 100 each, totaling NPR 445.45 million. Prabhu Capital Limited has been appointed as the issue manager for this IPO.
The IPO proceeds are intended to support the company's ongoing and upcoming energy projects. Currently, Bikash Hydropower operates the 4.55 MW Upper Machha Khola Small Hydropower Project in Gorkha, Gandaki Province. This project generates approximately 31.157 GWh annually and was completed at a cost of NPR 1,118 million, reflecting a 37% cost escalation, funded through a 58:42 debt-to-equity ratio.
As of mid-January 2025, Bikash Hydropower has a paid-up capital of approximately NPR 464 million. Major shareholders include Khagendra Neupane (~14%), Krishna Prasad Ghimire (~8%), Saroj Dhital (~8%), Raj Kumar Gurung (~7%), Indra Bahadur Dhakal (~5%), and Sunil Shrestha (~4%).
The specific opening and closing dates for the IPO have not been announced yet. Interested investors are advised to stay updated through official channels such as the company's website or Prabhu Capital's announcements.