Solu Hydropower is closing the first phase of its IPO today. This phase is only for people living in the project-affected areas of Solukhumbu district.
Application Window
The IPO was opened on Mangsir 7 for locals and for Nepalis working abroad.
The deadline for applicants abroad has already passed.
Now, only the locals from the affected zone have until the end of banking hours today to submit their applications.
Share allocations
The Securities Board of Nepal has allowed the company to issue 20 million shares at a face value of Rs 100.
In this first phase, 10 million shares are meant for the project-affected region.
Out of that, 4 million shares are for residents of the highly affected wards of Solu Dudhkunda Municipality (wards 7 and 11) and Thulung Dudhkoshi Rural Municipality (ward 1).
The remaining 6 million shares are for other wards in the same municipalities that fall inside the affected area.
Applicants can apply for a minimum of 10 shares and up to 100,000 shares.
Applications can be submitted at Global IME Bank’s Salleri and Solukhumbu branches, Laxmi Sunrise Bank’s Nele and Solukhumbu branches, and at the project site in Tingla.
Nabil Investment Banking and Himalayan Capital are managing the IPO process for Solu Hydropower.
