CEDB Hydro Fund to float IPO shares worth Rs 17.61 cr after right share issuance

CEDB Hydro Fund a company established by Clean Energy Development Bank Limited is in the verse to float Initial Public Offering (IPO) shares to general public. Issuing a press statement, it stated that after right share issuance CEDB Hydro Fund will soon issue Initial Public Offering (IPO) worth Rs 17.61 crore. The company conducted its (Special General Meeting) SGM on Ashad 8, 2073 which approved to increase its paid up capital from Rs 58.70 crore to Rs 76.31 crore. The company will be issuing right shares for the purpose. NCM Merchant Company Limited has been appointed as the issue manager for the IPO issue. Earlier, Jagadishwor Man Singh, Deputy Director of Nepal Electricity Authority and Binay Kumar Bhandari, CEO of CEDB Hydro Fund had signed Power Purchase Agreement (PPA)  for 5 MW Rukum Gad Hydropower on Ashad 7, 2073. The company had offered preference share to general public in 11MW Khare Khola Hydropower Project. The company will be developing 12 MW Dordi-1 Hydropower Project and also study is being carried out for 45 MW Kasuwa Khola Hydropower Project.