Kamal Bikash Hydropower Company Limited has announced the opening of its Initial Public Offering (IPO) for the general public. The company is issuing this IPO after completing the allotment to locals of the project-affected areas and Nepali citizens working abroad. This IPO is related to the 4.55 MW Upper Machhakhola Small Hydropower Project, located in the Gorkha district.
The hydropower project has already started commercial electricity production and has a remaining license validity of nearly 31 years. Investors now have the opportunity to participate in the company’s public share issue and become shareholders in a functioning power project.
Key IPO Details
| Particulars | Details |
| Company Name | Bikash Hydropower Company Limited |
| Project Name | Upper Machhakhola Small Hydropower Project |
| Project Capacity | 4.55 MW |
| Total Issued Capital | NPR 90,910,130 |
| Public Issue Size (10%) | NPR 9,091,010 |
| IPO Opening Date | 2082/03/18 (July 2, 2025) |
| IPO Closing Date (Earliest) | 2082/03/22 |
| IPO Closing Date (Extended) | 2082/03/32 |
| Minimum Application Quantity | 10 shares |
| Maximum Application Quantity | 10,000 shares |
| Issue Price per Share | NPR 100 |
| Credit Rating | ICRA NP BBB- (Moderate safety) |
| Simple Payback Period | 7 years 3 months |
| Discounted Payback Period | 10 years 9 months |
| Cost per MW | NPR 24.57 crore (including IDC) |
| Total Project Cost | NPR 1.11 Arba (including IDC) |
| Production License Validity | Until 2111/09/28 B.S. (Approx. 31 years) |
| Issue Manager | Prabhu Capital Limited |
Share Allocation Breakdown
The IPO includes a total of 909,101 shares, out of which:
- 40% was allocated to permanent residents of Ward 4 & 5 of Dharche Rural Municipality, Gorkha.
- 60% was allocated to residents of Wards 1, 2, 3, 6, and 7 of the same rural municipality.
- After allocation to locals and foreign-employed Nepali citizens, the remaining 294,276 shares are now open for general public subscription.
- Additionally, 7,091 shares are reserved for employees, and 17,727 shares are reserved for mutual funds.
Application Process
Interested investors can apply for shares through the C-ASBA system at banks and financial institutions or apply IPO by using the Meroshare online platform. Applicants must apply for a minimum of 10 shares and can apply for up to 10,000 shares.
Application forms are available at:
- Prabhu Capital Limited, Kamaladi, Kathmandu
- Bikash Hydropower Company Limited, Kathmandu
- SEBON’s official website
Financial Highlights
The company’s net worth per share has steadily increased over the years, reaching NPR 102.76 in FY 2081/82. The projected earnings indicate future profitability, and the company has already started generating revenue from its operational power plant.
| Fiscal Year | Earnings Per Share (EPS) | Net Worth per Share | Retained Earnings (in thousands) |
| FY 2078/79 | -0.96 | 95.04 | (13,249.46) |
| FY 2079/80 | -0.76 | 96.06 | (16,433.41) |
| FY 2080/81 | 1.55 | 97.43 | (11,928.02) |
| FY 2081/82 (Projected) | 6.18 | 102.76 | 12,806.56 |
Credit Rating and Safety
The IPO has been rated ICRA NP BBB- by ICRA Nepal. This rating indicates a moderate degree of safety regarding the timely servicing of financial obligations. It is one step below BBB and signifies reasonable financial health.
Final Words for Investors
Bikash Hydropower Company’s IPO offers investors the chance to participate in Nepal’s expanding hydropower sector. With a completed project, stable earnings, and long license validity, this offering could be suitable for investors seeking medium to long-term returns.
Before applying, investors are strongly encouraged to read the full prospectus available on:
Notice: Bikash Hydropower Company Limited IPO For the General Public
