Shikhar Power Development Ltd to Issue IPO; Global IME Capital Ltd Appointed as Issue Manager

Global IME Capital Ltd and Shikhar Power Development (SPDPL) Ltd have passed a bilateral agreement to carry out an Initial Public Offering (IPO) to be issued to the general public.

Shikhar Power Development Ltd. will issue 9.92 lakh ordinary shares at a share price of Rs. 100 each.

On 19th of Mansir 2079, Shikhar Power Development Ltd. participated in a special event held at the headquarters of Global IME Capital. The agreement has been signed by Mr. Paras Mani Dhakal, the Chief Executive Officer of Global IME Capital Ltd., and Mr. Hemraj Acharya, the Managing Director of SPDPL.

About Shikhar Power Development Pvt. Ltd. (SPDPL): 

In 2072, SPDPL was founded in Kathmandu, Nepal. The Company was founded with the intention of maximizing the nation's hydropower potential in order to aid in national development.

The company has Rs.50 crore authorized capital and Rs.33.8 crore issued capital. The share capital of Rs.23.16 crores has been paid by 10 promoter shareholders in this company, which holds 70% of the promoter group's shares.

This company, which is properly registered with the office of the Registrar of Companies, is now building the "Bhimkhola Small Hydropower Project (4.96 M.W.)" project in Badigad Rural Municipality of Baglung District. Almost 65 percent of the work has been finished. The Lower Bhimkhola Cascade Hydropower Project (6.05 Me.W.) is also being promoted, and the company is ready to invest in more hydropower, hotels, agriculture, and other industries in the future, according to Mr. Hemraj Acharya, the company's managing director.