Solu Hydropower Completes IPO Allotment for Nepalis Working Abroad; Over 20,000 Receive 10–20 Shares

Solu Hydropower Limited has completed the allotment of its IPO issued exclusively for Nepali citizens working abroad. The allotment process was finalized on Wednesday following an overwhelming response from migrant workers seeking investment opportunities back home.

The company had offered 1 million ordinary shares, each with a face value of NPR 100, totaling NPR 100 million in issue size. According to the issue manager, the IPO attracted 62,968 applicants, who collectively applied for 2,108,820 shares—more than double the available quota. Due to the oversubscription, the allotment was conducted using a lottery system.

As per the final allotment results,

• All 20,065 applicants who applied for 10 shares received the full 10 shares each.

• Among the 42,882 applicants who applied for more than 10 shares, a total of 37,053 individuals were allotted an additional 10 shares, allowing them to secure 20 shares in total.

Market analysts note that despite the oversubscription, a significant number of migrant worker applicants were still able to receive a minimum—and in many cases, double—the share quantity, reflecting the structure of the allocation model under this category.

Following the completion of the allotment, investors will receive their shares in their respective C-ASBA accounts within a few days, after which the company will move toward further listing procedures.

The IPO, targeted specifically at Nepali migrant workers, has been viewed as an important step in increasing their participation in Nepal’s hydropower investment landscape.