Taksar Pikhuwa Khola Hydropower Opens IPO for Bhojpur Locals and Nepalis Working Abroad

Taksar Pikhuwa Khola Hydropower Limited has started issuing its Initial Public Offering (IPO) from today, targeting project-affected locals of Bhojpur District and Nepali citizens working abroad. The company is offering 12,00,000 shares to locals of Bhojpur and 3,03,067 shares to Nepalis working overseas.

For project-affected locals, the IPO will remain open from Falgun 27 to Chaitra 11, 2082, and may be extended until Chaitra 26 if it is not fully subscribed. For Nepali citizens working abroad, the IPO will be open from Falgun 27 to Chaitra 1, with a possible extension until Chaitra 11 if needed.

The company has an issued capital of Rs. 1.20 billion, of which 35.26% (42,30,668 shares) will be distributed to the public. Out of this, 10% (12,00,000 shares worth Rs. 12 crore) has been allocated to project-affected locals of Bhojpur. The remaining 30,30,668 shares (25.26%) will be issued to the general public. From the shares allocated for the general public, 10% (3,03,067 shares) are reserved for Nepalis working abroad. Additionally, 2% (60,613 shares) have been set aside for company employees and 5% (1,51,533 shares) for mutual funds. The remaining 25,15,455 shares will be issued to the general public in a later phase.

Applicants from both categories can apply for a minimum of 10 shares and a maximum of 50,000 shares. Prabhu Capital Limited has been appointed as the issue manager for the IPO. According to CARE Ratings Nepal, the company has received a CARE-NP BB+ (Is) rating, which indicates a moderate risk in meeting financial obligations.

Taksar Pikhuwa Khola Hydropower Limited was established on April 23, 2014 as a private company and later converted into a public limited company on September 29, 2021. The company is promoted by individuals from different professional backgrounds and is developing an 8 MW run-of-river hydropower project in Bhojpur district, Nepal.