Fedikhola Hydropower Company Limited has appointed NMB Capital Limited as the securities issuance and sales manager for the IPO issuance.
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Fedikhola Hydropower Company Limited is going to issue 1.76 million units of primary shares (IP). Fedikhola has appointed NMB Capital Limited as the securities issuance and sale manager for the IPO.
The agreement to appoint the issuance and sale manager was signed by Prakash Chandra Dulal, Managing Director of Phedikhola Hydropower, and Dipesh Kumar Vaidya, Chief Executive Officer of NMB Capital.
22 percent of the total issued capital of Rs 800 million, i.e. Rs 176 million per share, is being issued to the general public, including locals in the project-affected areas, Nepalis in foreign employment, collective investment fund schemes, and employees of the company.
The total cost of the 4.3 Phedikhola (Thumlung) Hydropower Project under construction on the Phedikhola (Thumlung) River in Sapalpasilichho Rural Municipality-6 of Bhojpur district is Rs 940 million. The company has stated that the project, which has been completed by about 85 percent, is targeted to be completed by the coming Magh.
