Laxmi Capital appointed as issue manager for upcoming IPO of Union Hydropower

Laxmi Capital Market Limited, a wholly owned subsidiary of Laxmi Bank Limited, has been appointed as the issue Manager for upcoming Initial Public Offering (IPO) of Union Hydropower Limited. As per the press relesed published by the company today, Mr. Kiran Malla, Executive Chairman of Union Hydropower and Mr. Rajiv Sapkota, Chief Executive Officer of Laxmi Capital has signed the agreement. Union Hydropower Limited is issuing a total of 1,400,000 units shares to general public at Rs 100 par value. Union Hydropower Private Limited (UHPL) is the developer of the Midim Khola (Karapu) Hydropower Project (3 MW), a run-of- river type hydropower project located in the Lamjung District, Western Development Region of Nepal. More than 50%of the total work at the project site has been completed and its financial closure was done on August 21, 2014.