Him Parbat Hydropower Announces Rs 591.5 Million IPO for Locals and Migrant Workers

In a significant move to generate capital and promote local ownership, Him Parbat Hydropower Limited is gearing up to launch its Initial Public Offering (IPO) starting this Wednesday, Kartik 11. The first phase of this capital-raising campaign is strategically directed at two distinct groups: the project-affected residents of Dolakha district and Nepali nationals currently employed overseas with formal labor approvals.

The hydropower developer has received the green light to float 35 percent of its total issued capital, which translates to a substantial public issue worth Rs 591.5 million. Out of this total volume, a dedicated pool of 1.69 million shares has been earmarked specifically for the local population. Analyzing the company’s distribution strategy, it is evident that Him Parbat is taking a tiered approach to compensate the most impacted communities. A majority chunk of 1.014 million shares is strictly reserved for the highly affected zones, encompassing Wards 5 through 8 of Bigu Rural Municipality and Wards 2 through 4 of Kalinchowk Rural Municipality. The remaining 676,000 shares will be available to residents of the other wards within these two municipalities, ensuring an equitable distribution of resources based on the project's geographical footprint.

Furthermore, aligning with the regulatory mandate introduced by the government to channel remittance into productive sectors, the company has secured 422,500 shares for Nepali migrant workers. This allocation represents exactly 10 percent of the total quota that will eventually be offered to the general public. Financial analysts note that this provision not only democratizes investment opportunities for the diaspora but also helps integrate their hard-earned foreign currency directly into Nepal's growing energy infrastructure.

To accommodate a wide spectrum of financial capacities, from small retail investors to larger stakeholders, the company has set flexible application thresholds. Interested individuals can place bids for a minimum of 10 shares, while the ceiling has been set at 10,000 units. The subscription window for migrant workers is scheduled to open on Kartik 16 and will close on Kartik 25. These investors are required to apply digitally through the 'Mero Share' portal. For the project-affected locals, the primary early closing date is also set for Kartik 25. However, if the local quota remains undersubscribed, the deadline will be extended up to Mangsir 10 to ensure maximum local participation.

Citizens Capital has been appointed as the official issue manager to oversee the financial logistics of the IPO. To facilitate a smooth manual application process for rural residents who may lack reliable internet access, the company has set up physical collection centers. Dolakha locals can easily submit their application forms through the designated branches and extension counters of Citizens Bank, Prabhu Bank, Nepal Investment Bank, Sindhu Bikas Bank, and Laxmi Sunrise Bank operating within the district.