Apollo Hydropower IPO Opens for General Public from Today

Apollo Hydropower Limited has opened the Initial Public Offering (IPO) for the general public from today (Chaitra 26). After completing the allotment of shares for project-affected locals and Nepali workers employed abroad, the company has now issued the remaining shares to the general investors in the second phase. Out of the total approved 1.41 million shares (30% of issued capital), the company is offering 780,200 units of shares to the public at a face value of NPR 100 per share. Investors can apply for a minimum of 10 shares and a maximum of 94,000 shares. The IPO will close as early as Chaitra 30 and as late as Baisakh 10, 2083. CARE Ratings Nepal has assigned the company a ‘CARE-NP BB- (Double B Minus)’ issuer rating, indicating moderate risk in meeting its financial obligations. The company is developing a 6 MW Buku Khola Hydropower Project with an estimated total cost exceeding NPR 1.37 billion. Himalayan Capital Limited has been appointed as the issue manager, and investors can apply through C-ASBA participating banks and financial institutions or via the Mero Share online system.