Shikhar Power IPO Opens for Local and Migrant Workers
20th January 2026, Kathmandu
Shikhar Power Development Limited has officially launched the first phase of its Initial Public Offering today, Magh 6, 2082. This initial stage of the share issuance is exclusively dedicated to two priority groups: project affected local residents of the Baglung district and Nepali citizens currently employed abroad with valid labor permits. The issuance marks a significant transition for the company as it moves toward broad public ownership to support its growing hydropower portfolio.
Shikhar Power IPO Opens
The Securities Board of Nepal granted the final approval for this issuance on Poush 16, 2082, allowing the company to raise a total of 320 million rupees through the sale of 3.2 million ordinary shares at a par value of 100 rupees per unit. Global IME Capital Limited has been appointed as the issue and sales manager for the entire offering.
First Phase Allocation for Project Affected Locals
In line with the hydropower regulations of Nepal, Shikhar Power has reserved 10 percent of its total issued capital, amounting to 980,000 shares, for residents who are directly or indirectly impacted by the project and its transmission infrastructure.
The eligibility for the local quota is strictly defined. Residents of Badigad Rural Municipality, Wards 1 through 10, are eligible to apply. Additionally, the quota includes residents of Dhorpatan Municipality, Ward 2, which has been impacted by the transmission line.
Local applicants are permitted to apply for a minimum of 10 shares and a maximum of 10,000 shares. The primary application window for locals will close on Magh 20, 2082. However, if the shares are not fully subscribed by the initial deadline, the period may be extended until Falgun 8, 2082.
First Phase Allocation for Nepali Migrant Workers
The company has also opened applications for Nepali citizens working abroad under the foreign employment quota. A total of 222,000 units have been set aside for this category. To be eligible, applicants must possess a valid labor permit and apply through a dedicated remittance linked bank account as per regulatory guidelines.
For migrant workers, the application window is shorter. The opening date is today, Magh 6, and the early closing date is Magh 9, 2082. Similar to the local quota, the minimum application size is 10 shares, while the maximum is capped at 10,000 shares. This reservation policy is designed to encourage the Nepali diaspora to invest their earnings into national infrastructure projects.
Operational Status and Project Pipeline
Unlike many hydropower companies that go public during the early stages of construction, Shikhar Power Development Limited enters the market with a proven operational track record. The company’s 4.96 megawatt Bhim Khola Small Hydropower Project in Baglung has been in commercial operation since March 9, 2025.
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The proceeds from this Initial Public Offering are primarily intended to fund the second project of the company. While the Bhim Khola Project is already operational and evacuating power to the national grid, the Lower Bhim Khola Cascade is currently under construction. This second project has a capacity of 6.05 megawatts and is in its development phase with a target completion date of June 2027.
ICRA Nepal has recently updated the credit rating of Shikhar Power, noting the removal of execution risk for the first project and the improved liquidity cushion that the 320 million rupee capital raise will provide for the second project.
How to Apply and Important Deadlines
Eligible investors can submit their applications through the central application system via their respective banks. For local residents who do not have access to online banking services, designated collection centers have been established at Global IME Bank branches and other authorized financial institutions within the Baglung district.
For project affected locals, the total units available are 980,000. The opening date is today, Magh 6, and the early closing date is Magh 20. If the quota remains unsubscribed, the final deadline is Falgun 8.
For migrant workers, the total units available are 222,000. The opening date is today, Magh 6, and the closing date is Magh 9.
Once this first phase is successfully completed, the remaining 2.22 million shares will be opened to the general public across all 77 districts of Nepal.
Conclusion
The Shikhar Power Development IPO represents a balanced opportunity for investors, as it features a mix of a revenue generating operational project and a high growth under construction project. By prioritizing the local community in Baglung and the Nepali workforce abroad, the company is fostering a sense of ownership and sharing the benefits of the water resources of the nation. Eligible applicants are encouraged to complete their documentation and apply before the respective deadlines to avoid the last minute rush.
For More: Shikhar Power IPO Opens
