NCM Merchant Banking appointed as the issue manager for the IPO of CEDB Hydro Fund worth Rs. 17.61 crore

CEDB Hydro Fund Limited has appointed NCM Merchant Banking as the issue manager for the initial public offering  of 17 lakhs, 61 thousand units ordinary shares at a face value of Rs. 100. The IPO would be worth Rs. 17.61 crore. An agreement was signed by Vinay Bhandari, CEO of CEDB Hydro Fund and Mr. Biijay Lal Shrestha, Managing Director of NCM Merchant Baking Limited for the IPO that would be floated in the near future. CEDB Hydro Fund was established in the year 2009 by Clean Energy Development Bank Limited to promote and develop hydropower projects in Nepal.  The aim of the company is to invest and construct hydropower projects. The company promoted 3 hydropower projects like Radhi Hydropower Projetc (4.4 MW), Syange  Hydropower Project (183 KW) and Khudi Hydropower project (4 MW) are in operation at present. Dordi Khola Hydropower Project (10.3 MW) at Lamjung District, Rukum Gad Hydropower Project (5 MW) Rukum District and Lower Khare Hydropower Project (11 MW) Dolkha District are in the construction phase. Initial study is being carried out for 45 MW Kasuwa Khola Hydropower Project as well. The company has an authorized capital of Rs 1 arba.