IPO watch: upcoming and past IPOs in Nepal
Every IPO open for applications now or opening soon, the SEBON pipeline, and how past IPOs did after listing. Each open IPO carries a risk verdict read from the company's own SEBON prospectus. Updated 11 Nov 2026.
Open now
| Company | Type | Units | Closes | IPO check |
|---|---|---|---|---|
| Him Parbat Hydropower Limited | IPO (migrant workers) | 422,500 | 11 Nov 2026 | waiting for SEBON's prospectus |
| Him Parbat Hydropower Limited | IPO (local) | 1,690,000 | 26 Nov 2026 | waiting for SEBON's prospectus |
Opening soon
No opening dates announced yet.
In the SEBON pipeline 60 applications awaiting approval
| Company | Type | Units | Amount | Issue manager | Applied |
|---|---|---|---|---|---|
| Tenx Hydro Holding Limited | IPO | 800,000 | 8.00 crore | Muktinath Capital Limited | 28 Oct 2026 |
| Saurya Krishi Company Limited | IPO | 2,000,000 | 20.00 crore | NIC Asia Capital Limited | 3 Sep 2026 |
| Baidik Investment Company Limited | IPO | 2,835,000 | 28.35 crore | Muktinath Capital Limited | 21 Aug 2026 |
| NexGen Management & Equity Solutions | IPO | 1,250,000 | 12.50 crore | Laxmi Sunrise Capital Limited | 20 Aug 2026 |
| Moonlight Hydropower Company Limited | IPO | 9,241,426 | 92.41 crore | Laxmi Sunrise Capital Limited | 2 Oct 2026 |
| Unitech Hydropower Company Limited | IPO | 1,970,000 | 19.70 crore | Laxmi Sunrise Capital Limited | 23 Sep 2026 |
| Peace Energy Company Limited | IPO | 3,200,000 | 32.00 crore | Machhapuchchhre Capital Limited | 23 Sep 2026 |
| Sasha Engineering Hydropower Limited | IPO | 3,100,000 | 31.00 crore | NIMB Ace Capital Limited | 23 Sep 2026 |
| Hotel Siraichuli Limited | IPO | 1,500,000 | 15.00 crore | Nabil Investment Banking Limited | 23 Sep 2026 |
| Madhyapur Hospital Limited | IPO | 2,800,000 | 28.00 crore | Muktinath Capital Limited | 7 Aug 2026 |
| Indreni Mushroom Farm Limited | IPO | 875,000 | 8.75 crore | Muktinath Capital Limited | 7 Aug 2026 |
| Kalinchowk Invesment Company Limited | IPO | 2,400,000 | 24.00 crore | Nabil Investment Banking Ltd. | 14 Aug 2026 |
| Makari Gad Hydropower Limited | IPO | 2,227,500 | 22.28 crore | Sanima Capital Limited | 7 Aug 2026 |
| Chandragiri Hills Limited | Right share | 16,107,956 | 161.08 crore · 1.61 arba | Global IME Capital Limited | 22 Jul 2026 |
| Raghuganga Hydropower Limited | IPO | 15,000,000 | 150.00 crore · 1.50 arba | NIC Asia Capital Limited | 22 May 2026 |
| Super Hewa Power Company Limited | IPO | 1,925,000 | 19.25 crore | Laxmi Sunrise Capital Limited | 21 May 2026 |
| Premier Distillery Limited | IPO | 2,250,000 | 22.50 crore | Siddhartha Capital Limited | 22 May 2026 |
| Yuwarani Agro Industries Limited | IPO | 1,650,000 | 16.50 crore | Prabhu Capital Limited | 21 May 2026 |
| Annapurna Machha Dana Udhyog Limited | IPO | 1,009,531 | 10.10 crore | Laxmi Sunrise Capital Limited | 21 May 2026 |
| Rajesh Metal Crafts Limited | IPO | 6,000,000 | 60.00 crore | Nabil Investment Banking Limited | 21 May 2026 |
| Arun Kabeli Power Limited | Right share | 19,479,711 | 194.80 crore · 1.95 arba | Kumari Capital Limited | 14 May 2026 |
| Ktm Hospitality Limited | IPO | 1,550,000 | 15.50 crore | RBB Merchant Banking Limited | 27 Apr 2026 |
| Doleswor Village Resort and Farm House Limited | IPO | 1,620,000 | 16.20 crore | Citizens Capital Limited | 27 Apr 2026 |
| Asian Concreto Limited | IPO | 1,062,500 | 10.63 crore | Nabil Investment Banking Ltd. | 27 Apr 2026 |
| Bhagawati Steel Industries Limited | IPO | 1,500,000 | 34.95 crore | Nabil Investment Banking Ltd. | 27 Apr 2026 |
| Shanta Plywood Limited | IPO | 2,150,000 | 21.50 crore | Himalayan Capital Limited | 30 Mar 2026 |
| Ru Ru Jalbidhyut Pariyojana Limited | Right share | 4,538,578 | 45.39 crore | NIMB Ace Capital Limited | 30 Apr 2026 |
| Peoples Hydropower Company Limited | Right share | 32,000,000 | 320.00 crore · 3.20 arba | Sanima Capital Limited | 22 Apr 2026 |
| 6.25% Prime Bank Debenture 2093 | Bond / debenture | 3,000,000 | 300.00 crore · 3.00 arba | Sanima Capital Limited | 30 Mar 2026 |
| Daunne Agro Farm Limited | IPO | 1,250,000 | 12.50 crore | Citizens Capital Limited | 22 Aug 2025 |
| Budhanilkantha Heritage Hotel Limited | IPO | 4,950,000 | 49.50 crore | Global IME Capital | 30 Mar 2026 |
| Sabha Pokhari Hydropower Limited | IPO | 1,075,000 | 10.75 crore | RBB Merchant Banking Limited | 30 Mar 2026 |
| Eastern Sahara Company Limited | IPO | 2,750,000 | 27.50 crore | Global IME Capital Ltd. | 30 Mar 2026 |
| Godawari Steel Limited | IPO | 10,500,000 | 105.00 crore · 1.05 arba | Sanima Capital Limited | 31 Aug 2025 |
| National Bio Tech Limited | IPO | 1,000,000 | 10.00 crore | NIMB Ace Capital Limited | 30 Mar 2026 |
| 8% Guheswori Debenture 2090 | Bond / debenture | 260,000 | 26.00 crore | NIBL Ace Capital Limited | 16 Mar 2025 |
| NRN Infrastructure and Development Limited | Right share | 17,981,212 | 179.81 crore · 1.80 arba | Prabhu Capital Limited | 6 Feb 2026 |
| Sahas Urja Limited | Right share | 45,738,000 | 457.38 crore · 4.57 arba | NIMB Ace Capital Limited | 6 Feb 2026 |
| Bhugol Energy Development Company Limited | Right share | 4,823,840 | 48.24 crore | NIC Asia Capital Limited | 24 Dec 2025 |
| Oriental Hotel Limited | Right share | 3,155,050 | 31.55 crore | NIMB Ace Capital Limited | 15 Dec 2025 |
| Dolti Power Company Ltd | Right share | 5,159,860 | 51.60 crore | NIC Asia Capital Limited | 11 Dec 2025 |
| Panchthar Power Company Limited | Right share | 9,625,000 | 96.25 crore | Sanima Capital Limited | 3 Dec 2025 |
| Nabil Growth Fund | Mutual fund | 100,000,000 | 100.00 crore · 1.00 arba | Nabil Investment Banking Limited | 12 Aug 2025 |
| Sagarmatha Jalbidhyut Company Limited | Right share | 11,732,000 | 117.32 crore · 1.17 arba | NMB Capital | 5 Jun 2025 |
| Mai Khola Hydropower Limited | Right share | 3,921,568 | 39.22 crore | Prabhu Capital Limited | 23 May 2025 |
| Matribhumi Laghubitta Bittiya Sanstha Limited | FPO | 1,149,983 | 11.50 crore | Muktinath Capital Limited | 3 Apr 2025 |
| 7% NMB Power Bond 1 | Bond / debenture | 5,000,000 | 500.00 crore · 5.00 arba | Siddhartha Capital Limited | 24 Apr 2025 |
| Nepal Lube Oil Limited | Right share | 1,457,254 | 14.57 crore | NIMB Ace Capital Limited | 9 Apr 2025 |
| 9% Guheswori Debenture 2089 | Bond / debenture | 260,000 | 26.00 crore | NIMB Ace Capital Limited | 16 Mar 2025 |
| Numbur Himalaya Hydropower Limited | IPO (local) | 3,006,202 | 65.54 crore | – | 22 Dec 2024 |
| CEDB Holdings Limited | Right share | 5,636,592 | 56.37 crore | Muktinath Capital Limited | 5 Dec 2024 |
| Habitat Power Company Limited | IPO (local) | 1,100,000 | 11.00 crore | Muktinath Capital Limited | 6 Dec 2024 |
| Century Energy Limited | IPO (local) | 300,000 | 8.25 crore | NIMB Ace Capital Limited | 29 Nov 2024 |
| Butwal Power Company Limited | FPO | 10,000,000 | 206.30 crore · 2.06 arba | Nabil Investment Banking Limited | 10 Mar 2024 |
| National Laghubitta Bittiya Sanstha Limited | FPO | 669,900 | 6.70 crore | RBB Merchant Banking Limited | 23 Aug 2024 |
| Sanima GIC Insurance Limited | Right share | 3,400,000 | 34.00 crore | Citizen Capital Limited | 15 Nov 2024 |
| Ambe Steels Limited | IPO (local) | 11,192,727 | 339.14 crore · 3.39 arba | Nabil Investment Banking Ltd. | 23 Oct 2024 |
| Peoples Energy Limited | IPO (local) | 6,600,000 | 66.00 crore | Sanima Capital Limited | 7 Aug 2024 |
| Riddhi Siddhi Cement Limited | IPO (local) | 12,171,500 | 260.59 crore · 2.61 arba | NIMB Ace Capital Limited | 4 Oct 2024 |
| Bhugarbha Cement Limited | IPO (local) | 1,262,500 | 12.63 crore | Nabil Investment Banking Ltd. | 29 Aug 2024 |
Recently closed and listed
| Company | Type | Units | Closed | Listed on NEPSE |
|---|---|---|---|---|
| 6% RBBL Debenture 2089 | Bond / debenture | 3,000,000 | 29 Oct 2026 | not yet |
| Beni Hydropower Project Limited | IPO | 863,200 | 21 Sep 2026 | 13 Oct 2026 |
| Beni Hydropower Project Limited | IPO (local) | 1,040,000 | 13 Apr 2026 | 13 Oct 2026 |
| Beni Hydropower Project Limited | IPO (migrant workers) | 104,000 | 29 Mar 2026 | 13 Oct 2026 |
| NIC ASIA Equity Opportunity Fund | Mutual fund | 80,000,000 | 7 Oct 2026 | not yet |
| NIC ASIA Equity Opportunity Fund | Mutual fund | 80,000,000 | 7 Oct 2026 | not yet |
| Muktinath Mutual Fund 2 | Mutual fund | 100,000,000 | 1 Oct 2026 | not yet |
Past IPOs: how they did after listing 85 IPOs, newest first
| Company | Listed | First day | After 1 month | After 1 year | Fall from 1st-year high |
|---|---|---|---|---|---|
| SAPIL Sarvottam Paints Industries Limite... | 13 Aug 2026 | +245% | +1300% | – | -18% |
| MEPDL Mount Everest Power Development Li... | 12 Aug 2026 | +245% | +574% | – | -31% |
| ECL Everest Colour Limited | 17 Jul 2026 | +224% | +1410% | – | -31% |
| SGHL Sanigad Hydro Limited | 2 Jul 2026 | +244% | +429% | – | -18% |
| KAHL Kalanga Hydro Limited | 2 Jul 2026 | +240% | +444% | – | -31% |
| SNORL Snow Rivers Limited | 26 Jun 2026 | +244% | +810% | – | -19% |
| TPKHL Taksar Pikhuwa Khola Hydropower Li... | 22 Jun 2026 | +245% | +463% | – | -39% |
| YMHL Yambaling Hydropower Limited | 22 Jun 2026 | +245% | +530% | – | -37% |
| APHL Appolo Hydropower Limited | 10 Jun 2026 | +245% | +772% | – | -42% |
| SOPL Sopan Pharmaceuticals Limited | 8 Jun 2026 | +204% | +755% | – | -46% |
| KHPL Kalinchock Hydropower Limited | 26 May 2026 | +228% | +814% | – | -49% |
| PCIL Palpa Cement Industries Limited | 10 Apr 2026 | +230% | +765% | – | -47% |
| SIPD Shikhar Power Development Limited | 10 Apr 2026 | +213% | +716% | – | -54% |
| SKHEL Suryakunda Hydro Electric Limited | 29 Mar 2026 | +213% | +1314% | – | -60% |
| RLEL Ridge Line Energy Limited | 29 Mar 2026 | +230% | +1045% | – | -56% |
| BJHL Bhujung Hydropower Limited | 22 Mar 2026 | +197% | +1111% | – | -58% |
| SOHL Solu Hydropower Limited | 15 Mar 2026 | +230% | +717% | – | -40% |
| HFIN Hotel Forest Inn Limited | 12 Mar 2026 | +12% | +724% | – | -63% |
| SAIL Shreenagar Agritech Industries Lim... | 24 Nov 2025 | +232% | +674% | – | -47% |
| JHAPA Jhapa Energy Limited | 16 Nov 2025 | +211% | +1160% | – | -51% |
| SWASTIK Swastik Laghubitta Bittiya Sanstha... | 11 Nov 2025 | +307% | +2460% | – | -50% |
| BUNGAL Bungal Hydro Limited | 10 Nov 2025 | +233% | +516% | – | -48% |
| SAGAR Sagar Distillery Limited | 9 Nov 2025 | +251% | +1701% | – | -37% |
| DHEL Daramkhola Hydro Energy Limited | 6 Nov 2025 | +342% | +488% | – | -41% |
| MABEL Mabilung Energy Limited | 4 Nov 2025 | +249% | +674% | – | -43% |
| HIMSTAR Him Star Urja Company Limited | 1 Sep 2025 | +168% | +495% | +504% | -48% |
| BHCL Bikash Hydropower Company Limited | 20 Aug 2025 | +221% | +345% | +440% | -33% |
| TTL Trade Tower Limited | 17 Jul 2025 | +303% | +778% | +614% | -40% |
| PURE Pure Energy Ltd. | 27 May 2025 | +218% | +813% | +748% | -31% |
| OMPL Om Megashree Pharmaceuticals Limit... | 4 May 2025 | +197% | +1709% | +1065% | -45% |
| CREST Crest Micro Life Insurance Ltd. | 10 Apr 2025 | +233% | +1966% | +1006% | -55% |
| NMIC Nepal Micro Insurance Co. Ltd. | 8 Apr 2025 | +233% | +2358% | +960% | -60% |
| GMLI Guardian Micro-Life Insurance Limi... | 9 Feb 2025 | +231% | +1861% | +1655% | -36% |
| SARBTM Sarbottam Cement Limited | 19 Mar 2024 | +512% | +700% | +768% | -34% |
| HRL Himalayan Reinsurance Limited | 8 Jan 2024 | +240% | +596% | +782% | -26% |
| VLUCL Vision Lumbini Urja Company Limite... | 21 Dec 2023 | +302% | +405% | +583% | -29% |
| NWCL Nepal Warehousing Company Limited | 21 Dec 2023 | +130% | +765% | +844% | -30% |
| MKCL Muktinath Krishi Company Limited | 14 Dec 2023 | +97% | +966% | +1419% | -30% |
| SONA Sonapur Minerals and Oil Limited | 29 Oct 2023 | +215% | +194% | +368% | -28% |
| BGWT Bhagawati Hydropower Development C... | 12 Oct 2023 | +297% | +338% | +1011% | -29% |
| MSHL Mid-Solu Hydropower Limited | 12 Oct 2023 | +230% | +261% | +925% | -22% |
| MANDU Mandu Hydropower Ltd. | 11 Oct 2023 | +310% | +415% | +837% | -43% |
| HATHY Hathway Investment Nepal Limited | 11 Oct 2023 | +214% | +322% | +1655% | -29% |
| CLI Citizen Life Insurance Company Lim... | 1 Oct 2023 | +357% | +303% | +597% | -16% |
| ULHC Upper Lohore Khola Hydropower Comp... | 25 Sep 2023 | +164% | +157% | +298% | -21% |
| MEHL Manakamana Engineering Hydropower... | 25 Sep 2023 | +125% | +86% | +283% | -16% |
| SNLI Sun Nepal Life Insurance Company L... | 21 Sep 2023 | +403% | +344% | +659% | -21% |
| RNLI Reliable Nepal Life Insurance Limi... | 17 Sep 2023 | +393% | +314% | +494% | -20% |
| KBSH Kutheli Bukhari Small Hydropower L... | 21 Aug 2023 | +427% | +749% | +1850% | -32% |
| TSHL Three Star Hydropower Limited | 13 Aug 2023 | +180% | +213% | +860% | -22% |
| USHL Upper Syange Hydropower Limited | 13 Aug 2023 | +179% | +216% | +523% | -19% |
| GCIL Ghorahi Cement Industry Limited | 13 Aug 2023 | +409% | +383% | +484% | -21% |
| NRM Nepal Republic Media Limited | 6 Aug 2023 | +175% | +133% | +378% | -19% |
| ILI IME Life Insurance Company Limited | 6 Aug 2023 | +482% | +456% | +558% | -15% |
| MEL Modi Energy Limited | 5 Jul 2023 | +143% | +107% | +172% | -5% |
| RAWA Rawa Energy Development Limited | 5 Jul 2023 | +174% | +264% | +515% | -1% |
| IHL Ingwa Hydropower Limited | 20 Jun 2023 | +221% | +160% | +348% | -2% |
| CITY City Hotel Limited | 11 Jun 2023 | +102% | +666% | +685% | -30% |
| DOLTI Dolti Power Company Limited | 8 Jun 2023 | +187% | +127% | +329% | -27% |
| BEDC Bhugol Energy Development Company... | 8 Jun 2023 | +123% | +127% | +332% | -4% |
| MKHL Mai Khola Hydropower Limited | 16 May 2023 | +202% | +216% | +354% | -20% |
| MAKAR Makar Jitumaya Suri Hydropower Lim... | 7 May 2023 | +155% | +182% | +273% | -23% |
| ANLB Aatmanirbhar Laghubitta Bittiya Sa... | 2 May 2023 | +337% | +1849% | +2522% | -6% |
| MHCL Molung Hydropower Company Limited | 13 Apr 2023 | +55% | +110% | +272% | -41% |
| SMJC Sagarmatha Jalabidhyut Company Lim... | 13 Apr 2023 | +240% | +140% | +252% | -19% |
| AHL Asian Hydropower Limited | 23 Mar 2023 | +229% | +276% | +351% | -14% |
| KDL Kalinchowk Darshan Limited | 23 Mar 2023 | +40% | +788% | +691% | -33% |
| MKHC Maya Khola Hydropower Company Limi... | 22 Mar 2023 | +192% | +184% | +235% | -50% |
| SPL Shuvam Power Company Limited | 7 Mar 2023 | +192% | +415% | +570% | -40% |
| SMHL Super Madi Hydropower Limited | 5 Mar 2023 | +229% | +280% | +342% | -17% |
| BHPL Barahi Hydropower Public Limited | 4 Jan 2023 | +114% | +470% | +384% | -53% |
| EHPL Eastern Hydropower Limited | 14 Dec 2022 | +138% | +305% | +379% | -42% |
| SIKLES Sikles Hydropower Limited | 15 Nov 2022 | +221% | +270% | +319% | -34% |
| SPHL Sayapatri Hydropower Limited | 17 Oct 2022 | +114% | +276% | +341% | -26% |
| PPL People's Power Limited | 16 Oct 2022 | +206% | +161% | +157% | -33% |
| RHGCL Rapti Hydro and General Constructi... | 31 Aug 2022 | +322% | +221% | +233% | -40% |
| USHEC Upper Solu Hydro Electric Company... | 17 Aug 2022 | +257% | +233% | +133% | -46% |
| MHL Mandakini Hydropower Limited | 17 Aug 2022 | +161% | +295% | +158% | -39% |
| SGHC Swet-Ganga Hydropower & Constructi... | 17 Aug 2022 | +196% | +184% | +124% | -48% |
| UHEWA Upper Hewakhola Hydropower Company... | 11 Aug 2022 | +43% | +350% | +187% | -40% |
| RFPL River Falls Power Limited | 16 Jun 2022 | +290% | +204% | +272% | -12% |
| ULBSL Upakar Laghubitta Bittiya Sanstha... | 27 May 2022 | +1160% | +2328% | +2019% | -48% |
| GVL Green Ventures Limited | 19 Apr 2022 | +198% | +191% | +304% | -23% |
| BNHC Buddhabhumi Nepal Hydropower Compa... | 18 Jan 2022 | +262% | +620% | +434% | -51% |
| MBJC Madhya Bhotekoshi Jalavidyut Compa... | 26 Dec 2021 | +10% | +347% | +152% | -60% |
Returns against the Rs 100 issue price (adjusted for later bonus and right shares), at the close. "Fall from 1st-year high" is the deepest drop from the year's peak - what someone who bought after listing could lose.
Since late 2021, the 85 IPOs we could match to their prospectus closed their first day a median +228% above the Rs 100 issue price - but then fell a median 33% from their first-year high. The risk is buying after listing.
More detail on the full desk
Why each IPO is risky or sound with every figure from its prospectus, its verdict and what similar IPOs made, and how past IPOs did by sector and credit rating.
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Past results don't guarantee future results. These figures describe what happened on NEPSE before; they are not a promise.