First Business News Portal in English from Nepal
KATHMANDU: Super Madi Hydropower Company is going to issue initial public offering (IPO) worth Rs 315 million. The company is about to issue 3,150,000 shares at the face value of Rs 100 to the locals and general public in the project-affected areas.
The company has appointed Sanima Capital as the issue and sale manager to issue that amount of shares. On the occasion, Chief Executive Officer Bhishma Raj Chalise on behalf of Sanima Capital and Pushpa Jyoti Dhungana Chairman of Supermadi Hydropower has signed the agreement on Wednesday.
The company is going to issue the shares to invest in the Super Madi Hydropower Project (44 MW) under construction at Madikhola in Kaski District of Gandaki Province.
As per the company, the project is about 65 percent completed. Similarly, it is planned to start commercial production of electricity by 2022.
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