Suryakunda Hydro Electric Limited Closing IPO Shares to Project-Affected Locals of Nuwakot From Today

Suryakunda Hydro Electric Limited is closing the issue of 6,89,675 units of Initial Public Offering (IPO) shares for project-affected locals of Nuwakot District today, 23rd Poush, 2082. The IPO had opened on 9th Poush, 2082.

The issued capital of the company is Rs. 68.96 Crores. Of this, 20%, i.e., 13,79,350 unit shares, are to be issued to the public. Out of the total issue capital, 10%, which amounts to 6,89,675 unit shares worth Rs. 6.89 Crores, are allocated to project-affected locals of Nuwakot districts. The remaining 10% of the issued capital, i.e., 6,89,675 unit shares, will be offered to the general public at a later date.

Of this general public issue, 10% of 6,89,675, a total of 68,967 unit shares, were allocated for Nepalese citizens working abroad.

For the project-affected locals and Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 50,000 units.

Kumari Capital Limited has been appointed as the issue manager.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB- (Is)’ for Suryakunda Hydro Electric Limited (SKHEL), indicating a moderate risk of default in meeting financial obligations in Nepal. Additionally, CRNL has reaffirmed the ratings of ‘CARE-NP BB-’ for SKHEL’s long-term bank facilities and ‘CARE-NP A4’ for its short-term bank facilities.

Suryakunda Hydro Electric Ltd. (SKHEL) is a public limited company, originally incorporated as a private limited company and later converted to a public limited company on July 6, 2023. SKHEL has been operating the 11.00 MW run-of-river Upper Tadi Khola Hydropower Project (UTKHP) since July 28, 2025, located in Dupcheswor Rural Municipality, Nuwakot district, Bagmati Province. The project has been developed under the BOOT (Build, Own, Operate, and Transfer) model.