Shikhar Power Opens IPO for Local Residents and Nepalis Working Abroad

Kathmandu — Shikhar Power Development Limited has opened its Initial Public Offering (IPO) from today, Magh 6, targeting project-affected local residents and Nepali citizens working abroad in the first phase of the issuance.

The company has received approval to issue 3.2 million ordinary shares worth NPR 320 million, representing 32.65 percent of its issued capital of NPR 980 million. In the initial phase, the IPO has been made available specifically to locals affected by the project and Nepalis employed overseas.

For project-affected local residents, Shikhar Power is issuing IPO shares equivalent to 10 percent of its issued capital, amounting to NPR 98 million. Accordingly, 980,000 ordinary shares with a par value of NPR 100 per share have been allocated for local residents. The company stated that the allocation is based on details outlined in the Environmental Impact Assessment (EIA) report and the electricity generation license.

Eligible local applicants include residents of all wards (1 to 10) of Badigad Rural Municipality in Baglung district, as well as residents of ward number 2 of Dhorpatan Municipality in Baglung district who are affected by the project’s transmission line.

The IPO has also been opened for Nepali citizens working abroad. The company has allocated 10 percent of the shares reserved for the general public—equivalent to NPR 22.2 million or 222,000 ordinary shares—for overseas Nepalis. Applicants under this category must have obtained labor approval from the relevant government authority.

Investors can apply for a minimum of 10 shares and a maximum of 10,000 shares. For project-affected local residents, the IPO will close early on Magh 20. If the issue is not fully subscribed by then, the application period will be extended until Falgun 8.

Through this IPO, Shikhar Power aims to ensure local participation in the hydropower project while also providing investment opportunities for Nepalis working abroad, strengthening public ownership in the energy sector.