SATV 2 July, Kathmandu: Bikash Hydropower Company Limited is set to issue its Initial Public Offering (IPO) to the general public from today, July 2.

The company will issue 2,942,760 shares starting Wednesday. Investors can apply for a minimum of 10 shares and up to a maximum of 10,000 shares. The deadline to submit applications is July 7. If the issue is not fully subscribed by then, the deadline will be extended until July 17.

Prabhu Capital Limited is the issue manager for the IPO. Prior to this, the company had already distributed shares to project-affected locals of Gorkha district and to Nepali workers employed abroad.

The Securities Board of Nepal (SEBON) had approved the IPO issuance on April 14. As per the approval, the company plans to issue a total of 4,454,596 shares, worth Rs 445.4596 million.

Bikash Hydropower’s 4.55 MW Upper Machhakhola Hydroelectric Project, located in Dharche Rural Municipality–4, Gorkha, has been operational since February 2023.