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Apollo Hydropower to Launch IPO for General Public from March 26
Author
NEPSE TRADING
Kathmandu — Apollo Hydropower Limited is set to issue its Initial Public Offering (IPO) to the general public starting from March 26 (Chaitra 26). The company will offer 780,200 ordinary shares worth NPR 78.02 million at a face value of NPR 100 per share under the second phase of its public issuance.Prior to this, the company had already completed the allotment of shares to project-affected local residents and Nepali citizens working abroad. A total of 470,000 shares were allocated to locals, while 94,000 shares were distributed to foreign-employed Nepalis. Additionally, 37,000 shares were set aside for mutual funds and 18,800 shares were allocated to employees.The company had received approval to issue 1.41 million shares worth NPR 141 million, representing 30% of its total issued capital of NPR 570 million. With earlier allocations completed, the remaining shares are now being offered to the general public.Investors can apply for a minimum of 10 shares and a maximum of 94,000 shares. The IPO will remain open until March 30 (Chaitra 30) at the earliest, and if not fully subscribed, the deadline may be extended until April 22 (Baisakh 10, 2083).In terms of creditworthiness, CARE Ratings Nepal has assigned the company an issuer rating of ‘CARE-NP BB-’, indicating a moderate level of risk in its ability to meet financial obligations.Apollo Hydropower is currently operating the 6 MW Buku Khola Hydropower Project, with an estimated total cost of NPR 1.372 billion. The cost per megawatt stands at NPR 228.67 million. According to the company, the project has a simple payback period of 7.77 years and a discounted payback period of 16.43 years.The IPO issue and sales manager has been appointed as Himalayan Capital Limited. Interested investors can apply through ASBA-approved banks and financial institutions using the C-ASBA system or via the Mero Share online platform.With growing investor interest in Nepal’s hydropower sector, market participants are closely watching how this IPO will be received in the primary market.
