Kamal Mabilung Energy Limited, the developer of the Upper Piluwakhola-3 Hydropower Project (4.95 MW), has officially opened its Initial Public Offering (IPO) for residents of the affected areas and Nepali citizens currently working abroad. The offering is part of the company’s capital funding plan under the Securities Act, 2063 and Companies Act, 2063.
Key IPO Details
| Particulars | Information |
| Company Name | Mabilung Energy Limited |
| Project | Upper Piluwakhola-3 Hydropower Project (4.95 MW) |
| Total Issued Capital | NPR 385.82 million (10% of total capital) |
| IPO for Locals (Affected Areas) | 385,824 shares @ NPR 100 per share |
| IPO for Nepalis Working Abroad | 150,471 shares @ NPR 100 per share |
| Minimum Apply (Locals & Migrant Workers) | 10 shares |
| Maximum Apply | 50,000 shares |
| IPO Opening Date (Both Categories) | 2082/03/22 (July 6, 2025) |
| Earliest Closing Date | 2082/04/04 (July 21, 2025) |
| Latest Closing Date (for Migrants) | 2082/04/19 (August 5, 2025) |
| Credit Rating | [ICRANP-IR] B+ (High Risk of Default) |
| Issue Manager | Laxmi Sunrise Capital Ltd., New Baneshwor, Kathmandu |
Eligibility for Local Residents
The IPO is open to permanent residents of project-affected areas in the Sankhuwasabha District. This includes the following wards:
- Madi Municipality – Wards 5, 6, 7, 8, 9
- Chainpur Municipality – Wards 2, 3, 7, 8, 9
Note: Residents of Madi-5 and Madi-6 are now also eligible based on decisions made by local authorities and approved by the company.
Applicants from these areas must pay NPR 2 per application form, which is available at designated collection centers or downloadable from www.lscapital.com.np.
Application Centers for Local Residents
| Collection Center Location |
| Global IME Bank, Chainpur |
| Himalayan Bank, Madi Municipality |
| Laxmi Sunrise Bank, Khandbari |
| Mabilung Energy Powerhouse, Madi-7, Sankhuwasabha |
IPO for Nepalis Working Abroad
Nepali citizens who are currently working overseas with valid labor permits can apply for the IPO under the foreign employment quota.
- Minimum: 10 shares
- Maximum: 50,000 shares
- The application must be submitted via the C-ASBA system through:
- Member banks and financial institutions approved by SEBON
- Online through the Meroshare platform
No physical application forms are required for applicants abroad. Full payment of NPR 100 per share is mandatory at the time of application.
Financial Overview of the Company
| Fiscal Year | Net Worth/Share (NPR) | Earnings/Share (NPR) | Retained Profit (NPR) |
| 2079/80 | NPR 45.84 | (NPR 256.61) | NPR 11,604.41 |
| Projected 2080–83 | NPR 102–122 (avg.) | NPR 1.05–1.52 | NPR 8,607–12,422 crore |
- IRR (Internal Rate of Return): 11.71%
- Payback Period: 17.09 years
- Power Purchase Agreement Validity: Until 2112/04/08 (31 years remaining)
Credit Rating
The IPO has received a [ICRANP-IR] B+ credit rating from ICRA Nepal Ltd., indicating a high risk regarding timely repayment of financial obligations. The rating was issued on July 1, 2025, and is valid until September 12, 2026.
Important Notices
- Promoters and directors are not allowed to apply for this IPO.
- Shares allotted to residents cannot be sold or transferred for three years after allotment.
- Applicants are advised to read the prospectus carefully before applying.
- The full document is available on www.lscapital.com.np, www.mabilung.com, and www.sebon.gov.np websites.
For any further details, shareholders and applicants can contact Laxmi Sunrise Capital Ltd. or visit their website. This IPO offers a rare opportunity for locals and foreign-employed Nepalis to invest in a nationally significant hydropower project.
Notie:Mabilung Energy Ltd. Announces IPO for Locals and Nepalis Working Abroad
Notie:Mabilung Energy Ltd. Announces IPO for Locals and Nepalis Working Abroad
