Appolo Hydropower Limited is set to launch its Initial Public Offering (IPO) to the public on the 26th of Chaitra, 2082. The firm is releasing 7,80,200 shares, each with a nominal value of Rs. 100 per unit. The IPO will close early on the 30th of Chaitra, 2082, but if it isn’t completely filled by that date, the cutoff will be postponed until the 10th of Baisakh, 2083.
The company’s issued capital totals Rs. 47 crores. Of this amount, 30%, or 14,10,000 shares, will be open to the public. Furthermore, 10% of the total issued capital, which equals 4,70,000 shares valued at Rs. 47 crores, will be reserved for locals affected by the project in the districts of Okhaldhunga, Solukhumbhu, and Ramechhap. The remaining 20% of the issued capital, which amounts to 9,40,000 shares, is designated for the general public.
Out of this public offering, 10%, totaling 94,000 shares, has been allocated for Nepalese citizens residing abroad. Additionally, 2%, or 18,800 shares, are earmarked for the company’s employees, and 5% of the total offered shares, which is 47,000 units, have been set aside for mutual funds. The remaining 7,80,200 units will be available to the general public from the previously stated date.
Himalayan Capital Limited has been designated as the issue manager for this public offering. Applications can be submitted for a minimum of 10 units and a maximum of 94,000 units.
CARE Ratings Nepal Limited (CRNL) has revalidated Appolo Hydropower Limited’s (AHL) issuer rating at ‘CARE-NP BB- (Is)’ and its long-term banking facilities rating at ‘CARE-NP BB-’, signaling a moderate risk of default concerning financial obligations in Nepal.
Apolo Hydropower Limited (AHL), originally established as a private limited entity, transitioned to a public limited company on September 22, 2022. The firm is in the process of building a 6 MW run-of-the-river project in Okhaldhunga District, Nepal, under the BOOT (Build, Own, Operate, and Transfer) model.
