Kathmandu- Solu Hydropower Limited has opened its Initial Public Offering for the general public from today.

The public issue follows the allotment of shares to residents of project affected areas and to Nepalis working abroad.

The company has approval to issue 20 million shares, which equals 20 percent of its issued capital of Rs 10 billion.

Of the total issue, 10 million shares were allotted to local residents. One million shares were allotted to Nepalis working abroad with valid labour permits. The company has reserved 500,000 shares for mutual funds and 300,000 shares for its employees.

The remaining 8.2 million shares are now open to the general public. The issue is valued at Rs 820 million.
The minimum application size is 10 shares, while the maximum is 100,000 shares. The issue will close early on Magh 4. It will close on Magh 14 if it is not fully subscribed earlier.

Infomerics Credit Rating Nepal has assigned Solu Hydropower an IRN BB issuer rating, indicating an average level of credit risk.

Nabil Investment Banking Limited and Himalayan Capital Limited are managing the issue. Investors can apply through the C ASBA system.