Molung Hydro Company appoints Sunrise Capital as issue manager to float 35.31 lakh unit IPO shares; 11th AGM decides to take company public

Molung Hydro Power Company has appointed Sunrise Capital as the issue manager to float its 35.31 lakh unit shares to the general public including 8.02 lakh unit to the project affected locals of Solukhumbu district.

The MoU for the same was signed between BoD of the hydro company Mr. Amrit Kumar Maharjan and CEO of merchant bank Mr. Bijay Lal Shrestha amid a program.

The 7 MW Molung Khola hydro project that the company has already brought online since Chaitra 12, 2074 is mulling to go public as per the decision endorsed by the company’s 11^th AGM that decided to raise its paid-up capital to Rs 80.25 crore by issuing public shares.