Lower Erkhuwa Hydropower Company to Issue IPO

Lower Erkhuwa Hydropower Company has submitted an application to Securities Board of Nepal (SEBON) asking for permission to issue IPO. The hydropower company plans to issue 2,805,750 unit shares to general public through its initial public offering. Application to issue IPO was submitted by Lower Erkhuwa Hydropower on 11 Falgun, 2080.

Lower Erkhuwa Hydropower has appointed Muktinath Capital as the issue manager for the issuance of its IPO shares. It will issue its public offering at Rs. 100 per share t o raise Rs. 28.05 crores from public. If approved by SEBON, the company will issue IPO in two phases, initially to project affected locals and afterwards to general public. Its one of the Upcoming IPO that Nepalese Investors will have the option to invest in.

About Lower Erkhuwa Hydropower

Lower Erkhuwa Hydropower Company is an hydropower company located at Bhojpur district, Nepal. The company is building run of a river type project which is expected to produce 14.15 megawatts of electricity after the completion of project. The entire cost of this project is estimated to be Rs. 2 billion which is promoted by National Hydro Power Company Ltd. (NHPC) and is supported by various financial institutions based in Nepal.