. Apollo Hydropower Company Limited has extended the deadline to apply for the initial public offering (IPO).

The company has extended the deadline to apply for the IPO issued by the company from February 24 for the locals of the project-affected areas. The last date to apply for the IPO is March 10.

The company is issuing 14,10,000 units of shares worth Rs 14.10 crore i.e. 30% of the issued capital of Rs 57 crore. The company has issued 4,70,000 units of shares at the rate of Rs 100 each to the locals of the project-affected areas.

Out of the total offered shares, 50% i.e. 235,000 units will be allotted to the locals of Khijidemba Rural Municipality-7 and 8 of Okhaldhunga and 141,000 units to the residents of Likhupike Rural Municipality-2 of Solukhumbu district and Umakunda Rural Municipality-3 of Ramechhap district. The remaining 20 percent or 94,000 units of shares will be issued to the locals of Umakunda Rural Municipality-2 and Gokulganga Rural Municipality-1 of Ramechhap district.

Applications can be place for minimum 10 units and maximum 47,000 units.

Himalayan Capital has been appointed as the issue manager for the IPO issuance. The bidders can bid for the shares from Apollo Hydropower at Okhaldhunga, Kinja branch of Laxmi Sunrise Bank, Shivalaya branch at Ramechhap, Khijidemba branch of Nepal Investment Bank and Likhupike branch of Citizens Bank.