Appolo Hydropower Limited's IPO; Deadline Extended for Project Affected Locals Till Chaitra 10

Appolo Hydropower Limited has extended the issue of its IPO to the project-affected locals of Okhaldhunga, Solukhumbhu, and Ramechhap District until 10th Chaitra, 2082. The issue had opened on 11th Falgun, 2082.

The company's issued capital is Rs. 47 crores. Of this, 30%, i.e., 14,10,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, amounting to 4,70,000 unit shares worth Rs. 47 Crores, will be allocated to project-affected locals in Okhaldhunga, Solukhumbhu, and Ramechhap districts. The remaining 20% of the issued capital, i.e., 9,40,000 unit shares, will be offered to the general public at a later date.

Of this general public issue, 10%, a total of 94,000 unit shares, were allocated for the Nepalese citizens working abroad.

For the project-affected locals, the minimum application quantity to be applied is 10 units, while the maximum quantity is 47,000 units. And for the Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 94,000 units.

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

CARE Ratings Nepal Limited (CRNL) has reaffirmed Appolo Hydropower Limited’s (AHL) issuer rating at ‘CARE-NP BB- (Is)’ and its long-term bank facilities rating at ‘CARE-NP BB-’, indicating a moderate risk of default in meeting financial obligations in Nepal.

Apolo Hydropower Limited (AHL), initially incorporated as a private limited company, was converted into a public limited company on September 22, 2022. The company is developing a 6 MW run-of-the-river project in Okhaldhunga District, Nepal, under the BOOT (Build, Own, Operate, and Transfer) framework.

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