Jhapa Energy IPO opens for public subscription from Wednesday

Kathmandu: The initial public offering (IPO) of Jhapa Energy Limited has opened for subscription starting Wednesday.

The share issuance primarily targets local residents of the project-affected area and Nepali migrant workers employed abroad.

The company is issuing 10 percent of its total issued capital of Rs 380.19 million, equivalent to 380,190 ordinary shares at a face value of Rs 100 per share, reserved for local residents of the project-affected area.

Out of the total shares allocated for locals, 190,095 shares have been reserved for directly affected residents within a 100-meter radius of the under-construction solar power project site in Ward No. 4 of Shivsatakshi Municipality, Jhapa. The remaining 190,095 shares will be distributed among other residents of Ward No. 4 in Shivsatakshi Municipality, Jhapa, outside the immediate project vicinity.

Additionally, 10 percent of the public shares, worth Rs 5.72 million (57,029 shares at Rs 100 per share), have been allocated for Nepali migrant workers holding valid labour permits from the Government of Nepal.

The IPO aims to encourage local participation and investment while providing an opportunity for overseas Nepali workers to contribute to the country’s energy sector development.