Jhapa Energy Limited Opens IPO for Project-Affected Locals and Nepalis Working Abroad

Jhapa Energy Limited has opened its Initial Public Offering (IPO) from today, July 30 (Shrawan 14), targeting project-affected local residents and Nepalis currently employed abroad.

The company received approval from the Securities Board of Nepal (SEBON) on July 15 (Ashar 31) to issue a total of 950,475 shares at a face value of NPR 100 per share.

Out of the total issue, 10% (380,190 shares) is allocated to locals affected by the project, and 15% (570,285 shares) is reserved for Nepali citizens working abroad.

Of the shares allocated to project-affected locals, 190,095 units are reserved for those residing within 100 meters of the project site in Ward No. 4 of Shivasatakshi Municipality, Jhapa. The remaining 190,095 units are for other affected areas beyond the 100-meter perimeter.

Locals can collect and submit IPO application forms at the project site (Ward No. 4, Shivasatakshi), Himalayan Bank branches in Dudhe, Damak, and Surunga, or Machhapuchhre Bank branches in Surunga and Damak.

Both groups of investors are allowed to apply for a minimum of 10 shares and a maximum of 5,000 shares.

For project-affected locals, the IPO will close as early as August 12 (Shrawan 28) and by the latest on August 28 (Bhadra 12). For Nepalis working abroad, the application period closes as early as August 2 (Shrawan 18) and no later than August 12 (Shrawan 28).

Himalayan Capital Limited is the issue and sales manager for the IPO.