Suryakunda Hydro Electric Limited is opening the issue of an Initial Public Offering (IPO) of 6,89,675 units of IPO shares to the project-affected locals of Nuwakot District and 68,967 units of IPO Shares to Foreign Nepalese Immigrants from today, 9th Poush, 2082.

The IPO issue for the locals of Nuwakot District will open today, i.e., from 9th Poush to 23rd Poush, 2082, with a possible extension till Magh 08 if not fully subscribed by the early closing date, while for Nepalese citizens working abroad, the issue will open from today, i.e., from 9th Poush to 14th Poush, 2082, and may be extended till Poush 23 if undersubscribed.

The issued capital of the company is Rs. 68.96 Crores. Of this, 20%, i.e., 13,79,350 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 6,89,675 unit shares worth Rs. 6.89 Crores, will be allocated to project-affected locals of Nuwakot districts. The remaining 10% of the issued capital, i.e., 6,89,675 unit shares, will be offered to the general public at a later date.

Of this general public issue, 10% of 6,89,675, a total of 68,967 unit shares, have been set aside for Nepalese citizens working abroad, and the issue for this category will open from today.

For the project-affected locals and Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 50,000 units.

Kumari Capital Limited has been appointed as the issue manager.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB- (Is)’ for Suryakunda Hydro Electric Limited (SKHEL), indicating a moderate risk of default in meeting financial obligations in Nepal. Additionally, CRNL has reaffirmed the ratings of ‘CARE-NP BB-’ for SKHEL’s long-term bank facilities and ‘CARE-NP A4’ for its short-term bank facilities.

Suryakunda Hydro Electric Ltd. (SKHEL) is a public limited company, originally incorporated as a private limited company and later converted to a public limited company on July 6, 2023. SKHEL has been operating the 11.00 MW run-of-river Upper Tadi Khola Hydropower Project (UTKHP) since July 28, 2025, located in Dupcheswor Rural Municipality, Nuwakot district, Bagmati Province. The project has been developed under the BOOT (Build, Own, Operate, and Transfer) model.