Dolti Power Company Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Dailkeh district and Nepali citizens working in foreign countries from Monday.

In the first phase, the company is offering 10 per cent of the issued capital, i.e. 5,36,486 shares to the project-affected locals of Dailkeh district. The locals can apply for a minimum of 10 shares and a maximum of 10,000 shares.

If fully subscribed, the IPO to locals will close on March 9. If the IPO remains under-subscribed until the deadline, the deadline to apply for the IPO will extend till March 21.

Similarly, the company is issuing1, 07,298 shares to the Nepali citizens working in foreign countries (10 per cent from general public’s quota).

Nepali citizens in foreign employment can apply for a minimum of 10 shares and a maximum of 10,000 shares. The IPO for the Nepali citizens working in foreign countries will close on March 9.

After the completion of the first phase of the IPO allotment, IPO shares will be issued to the general public. Dolti Power Company Limited is currently operating 4.5 (megawatt) Padam Khola Hydro Power Project in Dailekh.

Run-of the-River project started its commercial production of the electricity from December, 2019. NIC Asia Capital Limited is the issue and sales manager of the company.