NIMB Ace Capital appointed as Sales and Issue Manager for IPO issuance of Shree Sasha Engineering Hydropower

KATHMANDU:NIMB Ace Capital has been appointed as the Issue and Sales Manager for the issue of 25,00,000 ordinary shares of Shree Sasha Engineering Hydropower Limited through Initial Public Offering (IPO). The allocated shares represent 20 percent of its issued capital.

Sasha Engineering Hydropower Limited, founded in 2007, utilized the water of Khani Khola in the Dolakha district for the 30-megawatt Khani Khola (Dolakha) hydropower project. The company obtained a survey permit for electricity production under the Electricity Act, 2049, enabling them to buy and sell the generated electricity. A power purchase agreement with the Nepal Electricity Authority is also in place. To date, 95% of the project's construction has been completed.

The agreement was signed by Mr. Pavitra Kumar Karki, Chairman, on behalf of Shree Sasha Engineering Hydropower Limited, and Mr. Shivant Bahadur Pande, Chief Executive Officer, on the behalf of NIMB Ace Capital Limited. During the agreement, Mr. Dilip Kumar Chaudhary, Company Secretary of Sasha Engineering Hydropower Limited, and Mr. Sachindra Dhungana, General Manager of NIMB Ace Capital Limited was also present.