December 13:  Asian Hydropower Limited has opened sale of its Initial Public Offering(IPO) to the locals of project-affected Ilam district and Nepali citizens working in foreign countries from Tuesday. 

In the first phase, the company has issued 3, 40,000 unit shares, worth Rs, 3,40,00000,  which is 10 per cent of the total paid-up capital of 34, 0000000, for the project-affected locals of Ilam district. Locals can apply a minimum of 10 shares, while the maximum unit of shares they can purchase is 20,000 at a face value of Rs 100. The closing date of the IPO is December 27, 2022. If the IPO remains under-subscribed, the deadline to apply will be extended till January 11, 2023. 

Similarly, Nepalese working abroad can apply for a minimum of 10 unit shares, while the maximum number of shares they can apply is 20,000. The closing date of the IPO for them is December 27 and the deadline will not be extended even if the IPO is not fully subscribed allocated for them. Out of 24.71 per cent of shares which is 8,40000 unit shares worth Rs 8,40,00000  allocated for the general public, ten per cent, that is 84,000 units of shares worth Rs, 84,00000 have been reserved for migrant workers. 
 

After the completion of the first phase of the IPO allotment, shares will be issued to the general public.
Asian Hydropower Limited has developed Lower Jogmai Khola Hydropower in Ilam district. The run-of-the river project has installed capacity of 6.2 megawatts.
 

The project has been producing power for the last one year.
Per megawatt cost for construction of the hydropower project stands at Rs 21.15 crores.