Himparbat Hydropower's IPO opens from Kartik 11, locals and migrant workers first

Himparbat Hydropower Limited will open sale of its primary shares, or IPO, from Kartik 11. According to the share issue manager, project-affected local residents and Nepalis working abroad will be eligible to apply in the first phase.

The company has permission to issue 35 percent of its issued capital, worth about Rs 590 million, amounting to 5,915,000 units of shares. Of these, 1,690,000 units with a face value of Rs 100 each have been earmarked for residents of the affected area.

Permanent residents of wards 5 to 8 of Bigu Rural Municipality and wards 2 to 4 of Kalinchok Rural Municipality in Dolakha will receive 1,014,000 units. The remaining wards of the two rural municipalities have been allotted 676,000 units.

Sale to local residents of the affected area will close earliest on Kartik 25. Separate shares have also been set aside for general investors.