34 Hydropower Firms Eye Rs 17.5 Billion IPOs

KATHMANDU, A notable number of hydropower companies have been looking forward to issuing primary shares to raise their capital, with the sector dominating the list of companies applying to the Securities Board of Nepal (SEBON) for initial public offering (IPO) approval.

According to the latest records of the SEBON, a total of 34 hydropower companies are awaiting IPO approval. These companies have sought approval to issue 171,483,736 units of ordinary shares worth a total of Rs 17.50 billion for the affected local residents and the general public.

Siuri Nyadi Power Limited has applied for the issuance of the largest units of its shares for the general public. The company has applied to issue 30,360,784 units of shares worth over Rs 3.03 billion.

Similarly, Raghuganga Hydropower Limited has applied for the issuance of 15 million shares. The company's proposed issuance amount is Rs 1.50 billion.

United Mewa Khola Hydropower Limited has applied for 12.3 million of its IPOs worth Rs 1.23 billion. Similarly, Mewa Developers Limited has applied for 11.2 million units worth Rs 1.12 billion.

Vision Energy and Power Limited, Nilgiri Khola Hydropower Company Limited, People's Energy Limited, Global Hydropower Associate Limited, Him Parbat Hydropower Limited, Jhyamolongma Hydropower Development Company Limited, Madam Khola Hydropower Limited, Upper Irkhuwa Hydropower Company Limited, Upper Makalu Hydropower Limited and Gaurishankar Power Development Limited have been waiting to float their IPOs.

Hilton Hydro Energy, Puwa Khola-1 Hydropower,  Ashutos Energy, Numbur Himalayan Hydropower, Aarati Power Company, Myagdi Hydropower, Orbit Energy, Kabeli Hydropower Company, Dudhpokhari Chepe Hydropower, Apex Makalu Hydropower, Habitat Power Company, Lower Erkhuwa Hydropower, Richet Jalavidhyut, Champawati Hydropower, LC Energy, Sabha Pokhari Hydropower and Superhewa Hydropower Company, are among others, as per the SEBON.