Mount Everest Power Development Limited has commenced its Initial Public Offering (IPO) from 17th Baishakh, 2083, targeting project-affected locals of Solukhumbu District and Nepalese citizens working abroad.

Under the offering, the company is issuing 8,60,000 unit shares to project-affected locals of Solukhumbu and 1,72,000 unit shares to Nepalis employed overseas.

The IPO for Solukhumbu locals will remain open from 17th Baishakh to 31st Baishakh, 2083, with a possible extension until 18th Jestha if the issue remains undersubscribed. Similarly, the issue for Nepalese citizens working abroad will remain open from 17th Baishakh to 23rd Baishakh, with a possible extension until 31st Baishakh if necessary.

The company has a total issued capital of Rs. 86 Crores. Out of this, 30% of the capital, equivalent to 25,80,000 unit shares, will be offered to the public.

From the total public issue:

• 10% of the issued capital, amounting to 8,60,000 unit shares worth Rs. 8.60 Crores, has been reserved for project-affected locals of Solukhumbu District.
• The remaining 20%, totaling 17,20,000 unit shares, will be offered to the general public.

Out of the general public allocation, 10% of 17,20,000 shares, equivalent to 1,72,000 unit shares, has been specifically reserved for Nepalese citizens working abroad.

For both categories, investors can apply for a minimum of 10 units and a maximum of 10,000 units.

NIMB Capital Limited has been appointed as the issue manager for the IPO.

Meanwhile, CARE Ratings Nepal Limited has reaffirmed the company’s issuer and long-term bank facility rating at ‘CARE-NP BB+’, which indicates a moderate risk of default. The agency has also assigned a ‘CARE-NP A4+’ rating to the company’s short-term bank facilities.

Established on November 16, 2014, Mount Everest Power Development Limited has been operating the 12 MW Dudhkunda Khola Hydroelectric Project in Solukhumbu District since July 31, 2024. The run-of-river hydropower project has been developed under the BOOT (Build, Own, Operate, and Transfer) model.

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