Today Is the Final Day to Apply for Solu Hydropower’s IPO for Nepalis Working Abroad

Today, Mangsir 10, is the final day for Nepali citizens working abroad to apply for the IPO issued by Solu Hydropower Limited. The company opened the issue on Mangsir 7, offering 1 million shares exclusively for migrant workers. Applicants can apply for a minimum of 10 shares and a maximum of 100,000 shares. Nabil Investment Banking Limited is serving as the issue manager.

The Securities Board of Nepal (SEBON) granted approval for the IPO issuance on Kartik 24. Under this approval, the company is permitted to issue 20 million shares worth Rs. 2 billion.

Solu Hydropower has already completed the construction of the 82 MW Lower Solu Hydropower Project in Solukhumbu and started commercial production on 24th Shrawan, 2082. The total estimated cost of the project is Rs. 16.30 billion, with a per-MW cost of Rs. 198.8 million. The project still has 25 years remaining on its electricity generation license.

The payback period for the project is 7.68 years on a simple basis and 12.09 years on a discounted basis, according to the company.

Along with Nabil Investment Banking, Himalayan Capital Limited is also acting as a co-issue manager. After completing the first phase of issuance for migrant workers and locals of the affected area, the company will move to the second phase, issuing IPO shares to the general public.