IPO Issue of Suryakunda Hydro Electric Limited Closing Today; Oversubscribed 41.06 Times So Far

Suryakunda Hydro Electric Limited is closing the issue of 5,72,431 units of IPO shares at a par value of Rs 100 from today, the 21st Magh, 2082. The issue was opened for the general public on 18th Magh, 2082.

The issued capital of the company is Rs. 68.96 Crores. Of this, 20%, i.e., 13,79,350 unit shares, will 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, has already been issued to project-affected locals of Nuwakot District. Regarding this general public issue, 10% of 6,89,675, a total of 689,675 unit shares, were already allocated to Nepalese citizens working abroad.

Of the general public issue, 2%, i.e., 13,793 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 34,484 units, have been set aside for the mutual funds. The remaining 5,72,431 units will be issued for the general public and will be closed from today.

Kumari Capital Limited has been appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 50,000 units.

According to CDSC, 20,49,285 applicants have applied for 2,35,04,370 units. Thus, the issue has been oversubscribed 41.06 times.

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.