Him Parbat Hydropower IPO Opens Today for Project-Affected Locals and Nepalis Abroad

Him Parbat Hydropower Limited has opened its Initial Public Offering (IPO) from October 28 (Kartik 11), targeting project-affected local residents and Nepalis employed abroad with valid labor approval. The company has received approval to issue 5.915 million shares worth Rs. 591.5 million, representing 35% of its issued capital of Rs. 1.69 billion. Of this amount, 1.69 million ordinary shares worth Rs. 169 million have been allocated to residents of the project-affected areas. Among the shares reserved for local residents, 1.014 million shares will be distributed to permanent residents of Bigu Rural Municipality wards 5, 6, 7 and 8, and Kalinchowk Rural Municipality wards 2, 3 and 4 in Dolakha district, which are classified as the most affected areas. The remaining 676,000 shares will be allocated to residents of other wards within the two rural municipalities. Similarly, 422,500 shares worth Rs. 42.25 million have been reserved for Nepalis working abroad after obtaining labor approval from the relevant government authority. This allocation represents 10% of the shares designated for the general public. Applicants must apply for a minimum of 10 shares, while the maximum application limit is 10,000 shares. The IPO for project-affected locals will close early on November 11 (Kartik 25) and, if extended, on November 26 (Mangsir 10). For Nepalis working abroad, the early closing date is November 2 (Kartik 16), while the final closing date is November 11 (Kartik 25). Icra Nepal has assigned the company an issuer rating of ICRA NP Issuer Rating Double B Plus (BB+), indicating a moderate level of risk in the company's capacity to meet its financial obligations. Him Parbat Hydropower operates the 20 MW Sangu Khola Hydropower Project, which has a total estimated cost of Rs. 3.65 billion. The project has a cost of approximately Rs. 182.59 million per megawatt and began generating electricity on October 11, 2025 (Ashoj 25, 2082). Its simple payback period is 6.09 years, while its discounted payback period is 9.08 years. The company also operates the 5.5 MW Sangu Khola-1 Hydropower Project, which has a total cost of approximately Rs. 1.15 billion and a per-megawatt cost of Rs. 209.17 million. The project began electricity generation on July 24, 2025 (Shrawan 8, 2082). Its simple payback period is 6.29 years, while its discounted payback period is 9.56 years. Both projects have 28 years remaining on their electricity generation licences. Citizens Capital Limited has been appointed as the issue and sales manager for the IPO. Project-affected residents can submit applications through the designated branches of Nepal Investment Bank, Sindhu Development Bank and Prabhu Bank in Singati, as well as Laxmi Sunrise Bank's Sunkhani Extension Counter and Citizens Bank's Charikot branch. Local applicants must pay Rs. 2 to obtain the share application form. Nepalis working abroad can apply through the C-ASBA system at ASBA-approved banks and financial institutions and their designated branches. Applications can also be submitted online through Mero Share, operated by CDS and Clearing Limited.