Rohan Maharjan
Q3 2026 is shaping up to be an exciting quarter for IPOs on NEPSE. With several hydropower, microfinance, and insurance companies in the pipeline, it is worth discussing which sectors and specific companies are most likely to list at a premium.
Based on historical data from the last 3 years, hydropower IPOs with strong Power Purchase Agreements (PPAs) and government backing have consistently listed 30–80% above issue price. Insurance companies with high FPO demand have also shown strong listing gains.
Here are my top picks for Q3 2026 premium listings:
1. Hydropower sector — Companies with long-term PPAs and low debt-to-equity ratios
2. Microfinance (D-class) — D-class MFIs in underserved regions tend to get oversubscribed 100x+
3. Life insurance — First-time FPOs from established life insurers have historically traded at premiums
What are your thoughts? Are there any specific companies you are tracking?
Great analysis, Rohan. I am keeping an eye on the hydropower companies coming up in July. The PPA rates look very strong this year. Also tracking one microfinance company in Karnali province — they are oversubscribed nearly every application period.
I would add that the secondary market sentiment before the IPO listing matters a lot. When the broader NEPSE index is above 2,400, premiums tend to be higher. Worth watching the index trend in the weeks before listing.
Does anyone have the full list of Q3 2026 IPOs? I have been checking MeroShare but the calendar is not always up to date. Would be helpful if LaganiLabs could add a dedicated IPO calendar feature.
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