Mai Khola Hydropower Limited is issuing Initial Public Offering (IPO) shares to the project-affected locals of Ilam district and Nepali citizens working in foreign countries from Thursday.

The hydropower company is issuing 10 percent of the total issued capital of Rs 39,21,56,800 i.e. 3,92,157 shares worth Rs 3,92,15,700 at the face value of Rs Rs100 for the residents of the project affected Ilam district.

Similarly, the hydropower company has issued 1,52,941 units of shares worth Rs 1,52,94,100 to the Nepali citizens working in foreign countries with labour permission received from the Department of Labour.

Project-affected locals can apply for a minimum of 10 and a maximum of 10,000 units of shares, while workers employed in foreign countries can apply for a minimum of 10 and a maximum of 50,000 units of shares.

Project-affected locals can apply for the public offering till March 26. If the IPO remains under-subscribed, the deadline to apply for the offering will extend till April 7. The deadline for the Nepali citizens employed in foreign countries to apply for the IPO will expire on March 26.

Local residents can visit Hydropower office, designated branch offices of Prabhu Bank, Century Bank, and Prime Commercial Bank to apply for the IPO. They can also apply for the IPO through the online system prepared by Prabhu Capital.

Likewise, Nepalis employed overseas can apply for the IPO through the 'Mero Share'. Prabhu Capital Limited is the company's share issue and sales manager.

The company has developed Super Mai Cascade Hydropower Project with the installed capacity of 3 megawatt. The total cost of the hydropower project stands at Rs 611 million. Per megawatt cost of the project is Rs 203.7 million.