The IPO allotment for Jhapa Energy Limited was finalized today at the offices of the issue manager, Himalayan Capital Limited, located at IT Plaza, Kamaladi, Kathmandu.
The firm had made available 4,73,336 units as an Initial Public Offering (IPO) to the general public from the dates (20th Bhadra, 2082 to 30th Bhadra, 2082).
Jhapa Energy Limited’s issued capital stands at Rs. 38.01. Out of this total, 25% or 950,475 unit shares were allocated to the public. From the overall issued capital, 10% or 3,80,190 unit shares, equivalent to Rs. 3.80 Crores, were designated for the locals impacted by the project in Jhapa districts. The remaining 15% of the capital, which is 5,70,285 unit shares, was available to the wider public. Within this public offering, 10% or a total of 57,029 unit shares were previously allocated to Nepalese citizens employed abroad. Furthermore, 2%, translating to 11,406 units, were reserved for the company’s employees, while 5% of the total shares offered, amounting to 28,514 units, were earmarked for mutual funds. Thus, the total of 4,73,336 units was directed to the general public.
The issue attracted a cumulative 18,33,783 valid applications for 19,954,830 units. Concurrently, 34,403 applications for 3,96,840 units were deemed invalid.
According to the allotment module, a total of 47,333 applicants received 10 units each through a lottery system, and another 6 applicants were granted 1 unit each.
Allotment Module:
Applicants can view the IPO results via CDSC IPO Result, MeroShare, and Himalayan Capital Limited.
ICRA Nepal has revised downwards the credit rating of Jhapa Energy Limited (JEL), signaling a heightened financial risk. The issuer’s rating has been adjusted from [ICRANP-IR] BB to [ICRANP-IR] B-, indicating a significant risk of default concerning the timely settlement of financial commitments. Moreover, the long-term loan rating of the company has been lowered to [ICRANP] LB from [ICRANP] LBB-, while its short-term loan rating remains unchanged at [ICRANP] A4.
Established on October 2, 2018, Jhapa Energy Limited (JEL) has been running a 10-MW solar photovoltaic (PV) facility in Jhapa district, Koshi Province, since January 24, 2024. Holding a paid-up capital of roughly NPR 285 million (as of mid-April 2025), completely owned by the promoters, the project was inaugurated at NPR 873 million, with approximately 69% financed through debt. The plant attained about 78% of its contracted energy output in the first half of FY2024 and 72% in the initial nine months of FY2025. The primary promoters possess modest individual shares, while around 83.2% is collectively maintained by other stakeholders. The company intends to issue an IPO to alleviate its debt load.
