SEBON Adds IPO Proposal of White Lotus Power Limited To Its Pipeline

The IPO proposal of White Lotus Power Limited is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 1,219,000 shares. This will raise Rs. 12.19 Crores for the company. The application was submitted on Ashadh 31, 2082.

Nepal SBI Merchant Banking Limited has been appointed the issue manager for the public offering.

ICRA Nepal has assigned an [ICRANP-IR] BB- issuer rating to White Lotus Power Limited (WLPL), indicating a moderate risk of default in meeting financial obligations. The rating reflects the company's overall creditworthiness and is not linked to any specific debt. Additionally, ICRA Nepal reaffirmed WLPL’s long-term loan rating at [ICRANP] LBB- and its short-term loan rating at [ICRANP] A4.

White Lotus Power Limited (WLPL), established on January 28, 2018, was converted into a public limited company on September 23, 2021. As of mid-March 2025, it had a paid-up capital of approximately NPR 408 million, fully held by promoters. Major stakeholders include Kriti Venture Fund (33%), Shikhar Insurance (16%), Citizen Life Insurance (10%), White Lotus Management (11%), Pratap Jung Pandey (8%), and Sunil Gurung (3%). Promoters have contributed around 77% of the targeted NPR 530 million equity, with the remaining 23% expected through a planned IPO. WLPL is developing the 6.82MW Hidi Khola Hydropower Project in Lamjung, a high-head, low-discharge run-of-river project. The estimated project cost is NPR 1,327 million, with a 70:30 debt-to-equity financing structure. It is expected to generate around 41 GWh of annual saleable energy, including 33% dry season output, and had reached 66% financial progress as of mid-April 2025.