Laxmi Sunrise Capital appointed as sales and Issue Manager for IPO of Union Mewa Hydro

KATHMANDU:Union Mewa Hydro Limited is going to issue an IPO. The company has appointed Laxmi Sunrise Capital as the IPO's sales manager.

Union Mewa Hydro plans to issue 35,38,605 units of IPO valued 353,860,500 rupees at a face value of Rs 100.

Bijaya Lal Shrestha, Chief Executive Officer of Laxmi Sunrise Capital, and Kiran Malla, Chairman of Union Mewa Hydro, have inked an agreement to oversee share issuance and sales.

Union Mewa Hydro is building the 23-megawatt Mewa Khola Hydropower Project in the Taplejung Rural Municipality's Mikwakhola Village. The company has said that 35% of the project has been finished.