Siuri Nyadi Power Appoints NMB Capital for Issuing IPO

Tue, Feb 6, 2024 4:18 PM on Latest, IPO/FPO News,

Siuri Nyadi Power Limited (SNPL) has appointed NMB Capital Limited (NMBCAP) as the Issuance and Sale Manager for its Initial Public Offering (IPO) to the general public. The agreement was finalized today at the company's registered office.

With an Authorized and Issued Capital of Rs. 6,19,60,78,400, 49 percent of the issued capital, equivalent to Rs. 3,03,60,78,400/- at a face value of Rs. 100, comprising 3,03,60,784 units of shares, will be allocated to various stakeholders, including project-affected areas, Nepalese working abroad, mutual funds, company employees, and the general public.

The appointment agreement was signed by Executive Chairman Mr. Shailendra Guragai on behalf of Siuri Nyadi Power Limited and Chief Executive Officer Mr. Deepesh Kumar Vaidya representing NMB Capital.

Construction progress on the 40.27 megawatt project stands at approximately 55 percent completion. The construction is progressing rapidly, with plans to commence operations by the year 2025.