ABP Energy Appoints Siddhartha Capital as IPO Issue Manager

ABP Energy Limited has signed an agreement with Siddhartha Capital Limited for the management of its proposed initial public offering (IPO).

ABP Energy Chairman Purna Lal Shrestha and Siddhartha Capital CEO Sandeep Karki signed the agreement on behalf of their respective companies.

Siddhartha Capital will serve as the issue and sales manager for the IPO, subject to regulatory approvals.

The company is developing the 8 MW Tadi Ghyangphedi Hydropower Project in Dupcheshwor Rural Municipality-1, Nuwakot. The run-of-river project has a total estimated cost of Rs 1.64 billion, with Siddhartha Bank providing Rs 1.23 billion in loans.