Muktinath Capital to Manage IPO of Garjang Upatyaka Hydropower

Muktinath Capital Limited and Garjang Upatyaka Hydropower Ltd have signed a bilateral agreement regarding the issuance of ordinary shares. As per the agreement, Muktinath Capital will act as the issue manager to facilitate the public offering process. The deal was signed by Arun Kumar Shrestha, Chairman of Garjang Upatyaka Hydropower, and Kabindra Dhoj Joshi, CEO of Muktinath Capital.

Garjang Upatyaka Hydropower plans to issue 10 lakh units of ordinary shares at a face value of Rs. 100 per share, totaling Rs. 10 crores, which is 20% of its Rs. 50 crore issued capital. The IPO process will proceed following approval from regulatory authorities.

Initially established as a private limited company, Garjang Upatyaka Hydropower was later converted to a public limited company. The company operates the 2.83 MW run-of-the-river Chake Khola Hydropower Project located in Ramechhap district, which is already in commercial operation.