Jhapa Energy Limited IPO Allotment Concludes: Lucky 47,333 Applicants Allotted 10 Units Each via Lottery System

Jhapa Energy Limited's IPO allotment was concluded today at the premises of the issue manager, Himalayan Capital Limited, IT Plaza, Kamaladi, Kathmandu.

The company had issued 4,73,336 units as an Initial Public Offering (IPO) to the general public from (20th Bhadra, 2082 to 30th Bhadra, 2082).

The company's issued capital is Rs. 38.01. Of this, 25%, 950,475 unit shares, were issued to the public. Out of the total issue capital, 10%, 3,80,190 unit shares worth Rs. 3.80 Crores, were allotted to the project-affected locals of Jhapa districts. The remaining 15% of the issued capital, 5,70,285 unit shares, was offered to the general public. Of this general public issue, 10%, a total of 57,029 unit shares, were already allotted to the Nepalese citizens working abroad. Of the general public issue, 2%, i.e., 11,406 units, have been set aside for the employees of the company, and 5% of the total offered shares, i.e., 28,514 units, were set aside for the mutual funds. The remaining 4,73,336 units were for the general public.

The issue received a total of 18,33,783 valid applications for 19,954,830 units. Meanwhile, 34,403 applications for 3,96,840 units were disqualified.

As per the allotment module, 47,333 applicants were allotted 10 units each via lottery, and 6 applicants received 1 unit each.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Himalayan Capital Limited.

ICRA Nepal has downgraded Jhapa Energy Limited (JEL) 's credit rating, indicating increased financial risk. The issuer rating has been lowered from [ICRANP-IR] BB to [ICRANP-IR] B-, suggesting a high risk of default in the timely repayment of financial obligations. Additionally, the company’s long-term loan rating has been reduced to [ICRANP] LB, from [ICRANP] LBB-, while its short-term loan rating remains unchanged at [ICRANP] A4.

Jhapa Energy Limited (JEL), established on October 2, 2018, has operated a 10-MW solar photovoltaic (PV) plant in Jhapa district, Koshi Province, since January 24, 2024. With a paid-up capital of around NPR 285 million (as of mid-April 2025), fully held by promoters, the project was commissioned at NPR 873 million, funded approximately 69% through debt. The plant achieved about 78% of contracted energy generation in the first half of FY2024 and 72% in the first nine months of FY2025. The major promoters hold small individual stakes, while about 83.2% is held collectively by other shareholders. The company plans to issue an IPO to reduce its debt burden.