Kathmandu-Shikhar Power Development Limited will open its initial public offering (IPO) for the general public starting Falgun 17.

The company has already completed the first phase of its IPO by allocating shares to project-affected locals, Nepalis working abroad, and collective investment funds.

In the second phase, applications will be opened to general investors.

The company received approval to issue 3.2 million shares worth Rs 320 million, representing 32.65 percent of its total issued capital of Rs 980 million.

Of the total shares issued, 980,000 shares were allocated to project-affected locals, 222,000 shares to Nepalis working abroad, and 111,000 shares to collective investment funds. The remaining 1,842,600 shares will now be offered to the general public, including 44,400 shares reserved for company employees.

Interested investors may apply for a minimum of 10 shares and a maximum of 10,000 shares at a face value of Rs 100 per share. The IPO will close on Falgun 22 if fully subscribed earlier, and by Chaitra 1 at the latest.

In its IPO rating, ICRA Nepal has assigned the company an 'ICRANP Issuer Rating Double B,' indicating a moderate level of risk in meeting its financial obligations.

The issue and sales manager for the IPO is Global IME Capital Limited. Investors can apply through all C-ASBA member banks and financial institutions approved by the Nepal Securities Board and their designated branch offices, as well as through the online platform Mero Share.