Solukhumbu Locals and Migrant Workers: Apply for Mount Everest Power IPO from Baishakh 17
Mount Everest Power is issuing 1,032,000 units to Solukhumbu locals and Nepalese abroad starting Baishakh 17, with a 10-unit minimum.
Mount Everest Power Development Limited (MEPDL) has announced its Initial Public Offering (IPO) targeting project-affected locals of Solukhumbu District and Nepalese citizens employed abroad, effective from Baishakh 17, 2083. Out of the company's total public issuance, 860,000 units are reserved for Solukhumbu locals, while 172,000 units are allocated for migrant workers. The subscription for overseas Nepalese closes on Baishakh 23, while locals have until Baishakh 31 to apply, with possible extensions if undersubscribed.
The issuance is managed by NIMB Capital Limited, and investors can apply for a minimum of 10 units up to a maximum of 10,000 units. Currently, the company operates the 12 MW Dudhkunda Khola Hydroelectric Project, which has been functional since July 2024. CARE Ratings Nepal has assigned a ‘CARE-NP BB+’ rating to the company, suggesting a moderate risk level for potential investors.