Jhyamolongma Hydropower appoints LS Capital for IPO

KATHMANDU:Jhyamolongma Hydropower Development Company Pvt. Ltd. conduct to issue ordinary shares (IPO). This company, which is building the Karuwa Seti Hydropower Project with a capacity of 32 MW in Machhapuchhre village, municipality of Kaski, will conduct an IPO. LS Capital has been designated as the share issuance and sales manager.

The company will be issuing 5.1 million ordinary shares at a set price of Rs 100 to residents of the project-affected districts, Nepalese individuals working abroad with work permits from the relevant authorities of the Government of Nepal, and the general public. 

Sunil Narayan Shrestha, executive director of the company, and Bijay Lal Shrestha, chief executive officer of LS Capital, inked a bilateral agreement to issue shares.

Jhyamolongma Hydropower Development Limited, with an issued capital of 2 billion 55 million, has completed approximately 85 percent of the Karuva Seti Hydropower Project's construction.