Kathmandu: Taksar Pikhuwakhola Hydropower Limited is set to open its initial public offering (IPO) on March 11, targeting project-affected local residents and Nepalis working abroad.
The company had received regulatory approval to issue 4,230,668 shares worth Rs 423.06 million, representing 35.26 percent of its issued capital of Rs 1.20 billion.
Out of the total issuance, shares worth Rs 120 million, equivalent to 1.2 million units priced at Rs 100 each, have been allocated to residents of the project-affected areas. Eligible applicants under this category are local residents of Bhojpur district.
In addition, a portion of the shares reserved for the general public has been earmarked for specific groups. Ten percent of the public allocation, amounting to 303,067 shares worth Rs 30.3 million, has been set aside for Nepalis working overseas who have obtained official labor approval from the Government of Nepal. The company has also allocated 151,533 shares for mutual funds and 60,613 shares for its employees.
Investors must apply for a minimum of 10 shares and can apply for up to 50,000 shares. The subscription period for project-affected locals will close at the earliest on March 24 and may extend until April 8 if undersubscribed. For Nepalis employed abroad, the offering will close at the earliest on March 14 and at the latest on March 24.
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