Kathmandu. Solu Hydropower Company Limited (SHP) is going to issue initial public offering (IPO).

In the second phase, the company will be issuing the IPO to the general public from January 29.

The company has allotted the shares to the locals and Nepalis working abroad in the project-affected areas.

The company is issuing 20 percent of the issued capital of Rs 10 billion i.e. 20 million units of shares at the rate of Rs 100 per share. Out of which 10 million units have been issued to the locals of the project affected areas and 10 lakh units to the Nepalese who have gone abroad for employment. Similarly, 5 Lakh units have been set aside for the mutual funds and 3 Lakh units have been set aside for the employees of the company. The company is issuing 82 lakh units of ordinary shares worth Rs 820 million to the general public.

Applications can be place for minimum 10 units and maximum 1,000,000 units. Applications can be submitted till January 4. If the application is submitted as per the demand within this period, it can be submitted till January 28.

Nabil Investment Banking has been appointed as its issue manager. The interested bidders can apply for the IPO from Securities Board of Nepal (SEBON) and Bank of India (SEBON) and Mero Shares.