Asian Hydropower Limited is opening sale of its Initial Public Offering (IPO) to the general public in the second phase from Friday.

The company is offering 7,56,000 units of shares to the general public, including the mutual fund schemes and employees of the company.

Out of the total shares, 42,000 units of shares have been allotted to the mutual fund schemes. Likewise, 16,000 shares have been set aside for the employees of the company.

General public an participate in the remaining 6,97,200 units of shares.

Interested investors can apply for a minim of 10 kitta and a maximum of 20,000 kitta of shares at a face value of Rs 100.

The offer will end on February 14. If the IPO remains under-subscribed, the deadline will extend until February 24.

In the first phase, the hydropower company had issued and allotted public offerings to the project affected locals of Ilam district and Nepali citizens working in foreign countries.

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 the hydropower construction stands at Rs 21.15 crores.

NMB Capital is the issue and sales manager of the hydropower company. Interested individuals can apply for the IPO from all C-ASBA-approved banks and financial institutions by the Securities Board of Nepal (SEBON). The IPO can also be purchased from Meroshare.