Shikhar Power IPO Extension Due to Low Demand
3rd February 2026, Kathmandu
Shikhar Power Limited has officially extended the deadline for its Initial Public Offering (IPO) targeted at project affected local residents of Baglung district. The extension comes after the initial issuance period, which began on Magh 6, 2082, concluded without reaching the full subscription target from the local quota.
Shikhar Power IPO
While the portion of the IPO reserved for Nepalese citizens working abroad was successfully oversubscribed and closed on Magh 9, local residents now have a significant additional window to secure their stake in the hydropower project.
The revised deadline for project affected locals is now set for Falgun 8, 2082 (February 20, 2026). This strategic extension ensures that members of the immediate community have ample opportunity to participate in the financial growth of the energy infrastructure being developed in their region.
Detailed Eligibility Criteria for Local Residents
The Shikhar Power IPO is specifically designed to prioritize those most impacted by the construction and operation of the Bhimkhola Small Hydropower Project. Eligibility is divided into two primary categories based on the nature of the impact.
High Impact Area (Project Site): This includes all residents of Badigad Rural Municipality, specifically wards 1 through 10. This covers the former Village Development Committees (VDCs) of Daga Tundanda, Sisakhani, Jaljala, Gwalichaur, Bhimgithe, Ransingkitaini, and Darling.
Transmission Line Impact Area: Residents of Dhorpatan Municipality, specifically ward number 2 (including former wards 2, 3, 4, and 5 of the old Burtibang VDC), are eligible due to their proximity to the project’s electricity transmission infrastructure.
Investors in these categories are permitted to apply for a minimum of 10 shares and a maximum of 10,000 shares at the par value of 100 rupees per share.
Project Overview and Financial Indicators
Shikhar Power Limited is developing the 4.96 MW Bhimkhola Small Hydropower Project in Baglung. The project represents a significant investment in the Gandaki Province energy grid and features several key financial metrics that potential local investors should consider.
Total Project Cost: 1.19 billion rupees.
Cost per Megawatt: Approximately 241.82 million rupees.
Simple Payback Period: 8.92 years.
Discounted Payback Period: 13.64 years.
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Remaining License Period: 29.08 years.
The project is a run of river (RoR) type, which is a common and environmentally conscious design for small scale hydro projects in Nepal’s hilly terrain. Commercial operations for the Bhimkhola project are expected to contribute significantly to the local economy through royalty payments and increased local employment.
Credit Rating and Investment Risk
To provide transparency for investors, ICRA Nepal Limited has assigned an [ICRANP-IR] BB rating to Shikhar Power Limited. This rating indicates a “moderate risk” regarding the company’s ability to meet its financial obligations. The rating reflects the strengths of the project, such as the long term Power Purchase Agreement (PPA) with the Nepal Electricity Authority (NEA), balanced against risks like project execution delays and hydrological variations.
How to Apply: Physical and Digital Locations
Recognizing that many local residents may prefer physical over digital applications, the company has established several collection centers in coordination with Global IME Capital Limited, the issue manager.
Eligible residents can visit the following bank branches to collect and submit their forms:
Global IME Bank: Naxal (Kathmandu), Burtibang, and Baglung Bazaar branches.
Prabhu Bank: Badigad 5, Gwalichaur branch.
Garima Bikas Bank: Burtibang branch.
Shine Resunga Development Bank: Burtibang branch.
Applicants from project affected areas are required to pay a nominal fee of 2 rupees per application form. For those with access to digital banking, applications can also be processed through the C ASBA system at any SEBON authorized bank or financial institution.
Conclusion
The Shikhar Power IPO Extension until Falgun 8, 2082, is a final invitation for the residents of Baglung to become partners in a local energy enterprise. By extending the deadline, the company and the issue manager, Global IME Capital, are ensuring that the spirit of local inclusion—a cornerstone of Nepal’s hydropower policy—is fully realized. Local residents are encouraged to verify their ward details and complete their applications before the extended closing date to avoid missing out on this primary market opportunity.
For more: Shikhar Power IPO
