White Lotus Power appoints Nepal SBI Merchant Banking as IPO Issue Manager

KATHMANDU:White Lotus Power Limited will conduct an IPO. The company plans to offer 1.2 million IPO shares, representing 26% of the outstanding capital, at a fixed rate of Rs 100 per share.

The company has announced that it would launch an IPO for local people and the general public in project-affected areas. According to reports, Nepal SBI Merchant Banking Limited has been appointed as the IPO issue and sales manager.

Lekhnath Pokhrel, Managing Director and CEO of Nepal SBI Merchant, and Suman Kumari Joshi, Executive Director of White Lotus Power, have signed an agreement for the IPO issue and sale. The company is building a 6.82 megawatt hydropower project in Lamjung.