Daramkhola Hydro Energy to Launch IPO from Asar 9
Daramkhola Hydro Energy Limited will open its IPO subscription from Asar 9, offering over one million shares primarily to local residents of project-affected areas and Nepali migrant workers abroad. The IPO, managed by Laxmi Sunrise Capital, aims to raise NPR 395 million and will later open to the general public in a second phase.
Daram Khola Hydro Energy Limited is set to open its Initial Public Offering (IPO) for subscription starting Asar 9, offering a total of 1,088,890 shares primarily targeting local residents from project-affected areas and Nepali workers abroad.
The company recently received approval from the Nepal Securities Board to issue 3,950,000 ordinary shares at a face value of NPR 100 per share, raising capital worth NPR 395 million. Out of this, 10 percent of the shares amounting to 1,030,500 units have been earmarked for local residents of the project-affected districts including Musikot Municipality in Gulmi, Galkot Municipality and Badigad Rural Municipality in Baglung.
Additionally, 58,390 shares from the public quota will be allocated to Nepali migrant workers abroad, subject to labor approval from the concerned government authority. Both groups local residents and overseas workers are eligible to apply for a minimum of 10 shares and up to a maximum of 50,000 shares.
The subscription window for local residents is scheduled to close between Asar 23 and Shrawan 6 at the latest, while for migrant workers, the deadline is Asar 23.
Local investors can submit their applications through designated collection centers including Global IME Bank’s Wami branch, Laxmi Sunrise Bank’s Galkot branch, Prabhu Bank’s Galkot branch, Daram Khola Power House, and other approved centers. Nepali workers abroad can apply through any ASWA-member bank and financial institution approved by the Securities Board, including online through the “Mero Share” portal.
Laxmi Sunrise Capital is appointed as the issue manager and sales coordinator for the IPO. After completing the initial phase targeting the project-affected locals and migrant workers, Daram Khola Hydro plans to offer shares to the general public in a second phase.
In this subsequent offering, the company will release 2,919,500 shares, representing 28.33 percent of the total issued capital, to retail investors nationwide.
The IPO marks an important milestone for Daram Khola Hydro Energy, providing an opportunity for stakeholders and the general public to participate in the company’s growth and Nepal’s expanding hydropower sector.