For Shareholders & Investors
Investor Relations
Where the share issue stands, the company’s credit ratings, who has been appointed to manage and underwrite the IPO, and official notices.
Initial Public Offering
The Road to Our IPO
Moonlight Hydropower is preparing its initial public offering. The Electricity Regulatory Commission has approved the issue, Laxmi Sunrise Capital is the issue manager, CARE Ratings Nepal has rated the company, and Jyoti Capital has agreed to underwrite the shares for the general public. The issue now needs approval from the Securities Board of Nepal (SEBON).
Dates depend on SEBON’s review, so we do not give an opening date yet. It will be announced here, in national newspapers and by the issue manager.
Next stepProspectus published and dates announced
-
Application to the Electricity Regulatory Commission (ERC)
Applied for permission to issue shares to the public.
-
ERC approval
The ERC approved the public share issue.
-
Issue manager appointed
Laxmi Sunrise Capital Limited.
-
Issuer credit rating
CARE-NP BB- (Is) from CARE Ratings Nepal, reaffirmed in December 2025.
-
Underwriting agreement
Jyoti Capital Limited, for all 9,241,426 shares offered to the general public.
-
SEBON review and approval of the issue
The Securities Board of Nepal reviews the application and the draft prospectus.
-
Prospectus published and dates announced
-
Issue for project-affected residents and Nepalis working abroad
-
Issue for the general public
-
Allotment and listing on NEPSE
The Share Issue
Issue at a Glance
Figures announced so far. The prospectus approved by SEBON will set the final size, quotas and dates.
- Shares for the general public
- 9,241,426
- Face value
- Rs 100 per share
- Amount (general public)
- Rs 924,142,600
- Underwriting
- 100%, Jyoti Capital Limited
- Issue manager
- Laxmi Sunrise Capital Limited
- Other quotas
- Project-affected residents and Nepalis working abroad
- Opening date
- To be announced
- Listing
- Nepal Stock Exchange (NEPSE)
Before You Invest
Project Fundamentals
What the company owns and how it will earn. Figures from company records and CARE Ratings Nepal (December 2025).
- Installed capacity
- 22.14 MW
- Power buyer
- Nepal Electricity Authority
- Tariff
- Rs 8.40 / Rs 4.80
- Contracted energy
- 124.56 GWh a year
- Funding
- 65% debt, 35% equity
- Construction
- 90.58% complete
Three Francis units of 7.38 MW
30-year PPA from commercial operation
Per kWh, dry / wet season, with 3% yearly escalation on the base rate in the early years
64.22% plant load factor
Revised project cost Rs 6,216 million; Rs 4,070 million of bank facilities rated
Physical progress, August 2026
Appointments
Issue Manager, Underwriter and Rating Agency
Licensed firms appointed so far for the share issue.
-
Appointed
Issue Manager
Laxmi Sunrise Capital Limited
28 October 2024
Manages the issue and prepares the prospectus.
-
Appointed
Underwriter
Jyoti Capital Limited
September 2026
Underwrites 100% of the 9,241,426 shares for the general public.
-
Appointed
Credit Rating Agency
CARE Ratings Nepal Limited
February 2025
Issuer rating CARE-NP BB- (Is), reaffirmed December 2025.
Website -
Pending
Share Registrar (RTS)
To be announced
Notices & Documents
Announcements for Investors
-
Press release
Underwriting agreement signed with Jyoti Capital
Jyoti Capital Limited will underwrite all 9,241,426 ordinary shares (Rs 100 each, Rs 924,142,600 in total) to be offered to the general public.
-
Rating reportOpen — Issuer and bank loan ratings reaffirmed
Issuer and bank loan ratings reaffirmed
CARE Ratings Nepal reaffirmed the issuer rating CARE-NP BB- (Is) and the CARE-NP BB- rating on bank facilities, now Rs 4,070 million. Press release, December 2025.
-
Rating reportOpen — Issuer rating CARE-NP BB- (Is) assigned; bank loan rating reaffirmed
Issuer rating CARE-NP BB- (Is) assigned; bank loan rating reaffirmed
CARE Ratings Nepal press release, February 2025.
-
Press release
Laxmi Sunrise Capital appointed issue manager
Agreement signed for management of the initial public offering (17,610,050 shares as announced at the time).
-
Rating reportOpen — Bank loan rating reaffirmed at CARE-NP BB-
Bank loan rating reaffirmed at CARE-NP BB-
Rating on Rs 2,631 million of long-term loans at the time.
Investor FAQs
Questions About the IPO
Investor Contact
For questions about the share issue or your shareholding, contact our office. For application procedures, the issue manager can also help once the issue opens.
Send a message01When will the IPO open?
After SEBON approves the issue. The opening date will be published here, in national newspapers and by Laxmi Sunrise Capital.
02How many shares will be offered?
9,241,426 shares of Rs 100 each are planned for the general public, fully underwritten by Jyoti Capital. Separate quotas for project-affected residents and Nepalis working abroad will be set out in the prospectus.
03Who gets to apply first?
Residents of the project-affected area and Nepali citizens working abroad, followed by the general public. Who qualifies as a project-affected resident is defined in the prospectus.
04What is the company’s credit rating?
CARE Ratings Nepal assigned an issuer rating of CARE-NP BB- (Is) in February 2025 and reaffirmed it in December 2025, together with CARE-NP BB- on Rs 4,070 million of bank loans. The reasons are summarised above, with a link to the full press release.
05How do I apply?
Online through MeroShare (CDSC) or the ASBA service of your bank. You need a demat account and a MeroShare login before the issue opens.
06Why is there no opening date yet?
The issue still needs SEBON approval. After that the prospectus is published and the dates are set. We would rather give a confirmed date than an estimate.
The information on this page is for general information only. It is not an offer or an invitation to buy shares. Shares will be offered only through the prospectus approved by the Securities Board of Nepal (SEBON); please read the prospectus before applying.