Suryakund Hydro to Issue IPO from December 25 for Project-Affected Locals and Migrant Nepalis

Kathmandu — Suryakund Hydroelectric Limited has announced that it will issue its Initial Public Offering (IPO) starting December 25 (Poush 9). The IPO will be offered to residents of the project-affected areas as well as Nepalis working abroad.

With approval from the Securities Board of Nepal, the company is authorized to issue 20 percent of its issued capital, amounting to Rs 137.94 million, through the issuance of 1,379,350 ordinary shares at a face value of Rs 100 per share. The company’s total issued capital stands at Rs 689.67 million.

Out of the total issue, 10 percent of the issued capital—equivalent to Rs 68.97 million or 689,675 shares—has been allocated for residents of the project-affected areas. Eligible applicants include local residents from all wards of Dupcheshwar Rural Municipality in Nuwakot district.

The IPO for project-affected locals will close on January 7 (Poush 23) at the earliest and may remain open until February 20 (Magh 8) if the issue is undersubscribed. Local residents can apply through Jyoti Bikash Bank’s Samundratar branch, Agricultural Development Bank’s Khairenitar branch, Rastriya Banijya Bank’s Khairenitar branch, the company’s registered office at Trade Tower, Thapathali, and at the project site in Dupcheshwar. Applicants are required to pay a form fee of Rs 2.

In addition, 68,967 ordinary shares—equivalent to 10 percent of the portion allocated for the general public—have been reserved for Nepalis working abroad who have obtained labor approval from the relevant government authority. These shares are valued at Rs 68.97 million at a face value of Rs 100 per share.

Migrant Nepalis can apply for a minimum of 10 shares and a maximum of 50,000 shares. The application period for overseas Nepalis will close on December 30 (Poush 14), and if fully unsubscribed, the deadline may be extended until January 7 (Poush 23).

Eligible overseas applicants can apply through all C-ASBA member banks and financial institutions approved by the Securities Board of Nepal, as well as through the “Mero Share” online platform developed by CDS and Clearing Limited.

Suryakund Hydroelectric Limited operates the 11-megawatt Upper Tadi Khola Hydropower Project, which has a total project cost of Rs 2.368 billion, with a per-megawatt cost of approximately Rs 215.31 million. The project has a remaining electricity generation license validity of 26 years.

According to the company, the simple payback period of the project is 7.71 years, while the discounted payback period stands at 16 years. Kumari Capital Limited has been appointed as the issue and sales manager for the IPO.