Him Parbat Hydropower Limited (HPHL)

Himal Parbat Hydropower Limited is set to open its Initial Public Offering (IPO) for local residents of the project-affected areas from Kartik 11. The company will issue 16 lakh 90 thousand shares to local residents at a face value of Rs. 100 per share.

Of the total shares to be issued, 10 lakh 14 thousand shares have been allocated to residents of the highly affected areas. Eligible applicants include permanent residents of Wards 5, 6, 7 and 8 of Bigu Rural Municipality and Wards 2, 3 and 4 of Kalinchowk Rural Municipality in Dolakha District.

The remaining 6 lakh 76 thousand shares have been reserved for permanent residents of other wards of Bigu and Kalinchowk rural municipalities.

How Many Shares Can Applicants Apply For?

Local residents can apply for a minimum of 10 shares and a maximum of 10,000 shares.

The IPO will close at the earliest on Kartik 25 and, if extended, at the latest on Mangsir 10.

Where to Apply?

Citizens Capital Limited has been appointed as the issue and sales manager for the IPO.

Residents of the project-affected areas can submit applications through the Singati branch offices of Nepal Investment Bank, Sindhu Development Bank and Prabhu Bank.

Applications can also be submitted through the Sunkhani Extension Counter of Laxmi Sunrise Bank and the Charikot branch of Citizens Bank.

Applicants will have to pay Rs. 2 to obtain the application form.

Company Rating

For the IPO issuance, ICRA Nepal has assigned Himal Parbat Hydropower an ‘ICRANP Issuer Rating BB+’.

The rating indicates a moderate level of risk regarding the company’s ability to meet its financial obligations.