NIBL Capital Markets, Garjang Valley sign IPO pact

KATHMANDU, April 2:

NIBL Capital Markets Limited, a subsidiary of Nepal Investment Bank Limited, has signed an agreement with Garjang Valley Hydropower Ltd (GVHL) for the latter's Initial Public Offering (IPO).

According to a statement issued on Thursday, Mekh Bahadur Thapa, general manager of NIBL Capital Markets, and GVHL General Manager Arun Kumar Subedi signed the agreement on Thursday.

As per the agreement, NIBL Capital Markets will be the issue manager for GVHL's IPO. GVHL is issuing 522,600 units of shares worth Rs 52.26 million to the general public. "The 2.83-MW project will be built on Chake Khole in Chure VDC of Ramechhap. Land acquisition for the project has already been completed," the company said in the statement.

Source: Republica