Balephi Hydro of Sindhupalchowk receives four merchant banks under the leader of NMB Capital to underwrite its upcoming IPO; hydro company to float 36.55 lakh unit shares soon

Balephi Hydro has appointed Sunrise Capital, Himalayan Capital and Kumari Capital under the leadership of NMB Capital as its share underwriters for its upcoming issue of 36.55 lakh unit IPO shares.

The agreement regarding the same was signed between Executive chairman of the hydro company Mr. Umesh Kashaju, CEO of NMB Capital Mr. Shreejesh Ghimire, CEO of Sunrise Capital Mr. Bijay Lal Shrestha and CEO of Himalayan Capital Mr. Parmeshwor Pant, and CEO of Kumari Capital Mr. Rajesh Shrestha.

Following the agreement, 18.27 lakh unit shares will be issued for the project affected locals while same 18.27 lakh unit shares will be issued to the general public, as per the media statement.

The company is currently building 36 MW Upper Balephi A project in Balephi river of Sindhupalchowk where it has already completed 80% of the construction work and will begin churning out the power by the end of Asad 2077, as per the media statement.

The company aims to wrap up the total construction work within Rs 6.78 arba, where per MW cost stands at Rs 16.90 crore which is comparatively cheaper, as per the media statement. The company shall be able to earn profit and distribute dividend to its shareholders from the first year of the operation, as per the media statement.