Him Parbat Hydropower Limited Issuing IPO Shares to Locals of Dolakha District And Nepalese Employed Abroad From Kartik 11

Him Parbat Hydropower Limited has published an offer letter to issue an Initial Public Offering (IPO) to the project-affected locals of Dolakha District and Nepalese citizens working abroad.

The IPO issue for the locals of Dolakha District will open from 11th Kartik to 25th Kartik, 2083, with a possible extension till Mangsir 10, 2083, if not fully subscribed by the early closing date, while for Nepalese citizens working abroad, the issue will open from 11th Kartik to 16th Kartik, 2083, and may be extended till 25th Kartik if undersubscribed.

The issued capital of the company is Rs. 1.59 Arba. Of this, 35%, i.e., 59,15,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, amounting to 16,90,000 unit shares worth Rs. 16.90 Crores, will be allocated to project-affected locals in Dolakha District. The remaining 25% of the issued capital, i.e., 42,25,000 unit shares, will be offered to the general public.

Of this general public issue, 10% of 42,25,000, a total of 4,22,500 unit shares, have been set aside for Nepalese citizens working abroad, and the issue for this category will open on the date mentioned above.

For the project-affected locals, the minimum application quantity to be applied is 10 units, while the maximum quantity is 10,000 units. For Nepalese citizens working abroad, the minimum application quantity is 10 units, and the maximum is 10,000 units.

Citizens Capital Limited has been appointed the issue manager for the public offering.

ICRA Nepal has upgraded the issuer rating of Him Parbat Hydropower Limited (HPHL) to [ICRANP-IR] BB+ from BB, reflecting a relatively improved credit profile. The BB+ rating indicates moderate risk of default in meeting financial obligations on time.

Him Parbat Hydropower Limited, established in 2014 and converted into a public company in 2021, operates two run-of-river projects in Dolakha with a combined capacity of 25.5 MW—the 5.5 MW Sagu Khola-1 and 20 MW Sagu Khola Hydropower Projects. Since their operations began in 2025, the projects have recorded around 84% overall generation. Developed at a consolidated cost of approximately NPR 4.94 billion, the projects were financed through a 66:34 debt-to-equity ratio and are expected to generate around 150 GWh annually. As of mid-July 2026, the company had NPR 1.099 billion in paid-up capital and is planning an IPO worth approximately NPR 592 million.

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