Solu Hydropower to Issue IPO for the General Public from January 13

Solu Hydropower Limited has announced that it will issue an Initial Public Offering (IPO) to the general public starting Tuesday, January 13 (Poush 29). The company had received approval from the Securities Board of Nepal on November 10 (Kartik 24) to issue 20 million ordinary shares at a face value of NPR 100 per share, totaling NPR 2 billion.

In the first phase, the company had already allocated shares to Nepalis working abroad and project-affected locals. After setting aside 500,000 shares for mutual funds and 300,000 shares for employees, the company is now issuing the remaining 8.2 million shares to the general public.

General investors can apply for a minimum of 10 shares and a maximum of 100,000 shares. Applications can be submitted through banks and financial institutions participating in the C-ASBA system approved by the regulator, as well as via the ‘Mero Share’ platform of CDSC.

The IPO offering for the general public will close on January 18 (Magh 4) at the earliest and January 28 (Magh 14) at the latest. The issue manager for the IPO is Nabil Investment Banking.