Siuri Nyadi Power Limited (SNPL) has appointed NMB Capital Limited as the Issuance and Sale Manager for its Initial Public Offering (IPO) to the general public. This agreement was officially concluded on February 6, 2024 at the company’s registered office.
The total Authorized and Issued Capital is Rs. 6,19,60,78,400. Out of this, 49% of the issued capital amounting to Rs. 3,03,60,78,400, with a face value of Rs. 100 per share will be allocated to various stakeholders. This allocation comprises 3,03,60,784 units of shares. The recipients of these shares include various stakeholders such as project-affected areas, Nepalese working abroad, mutual funds, company employees, and the general public.
Executive Chairman Mr. Shailendra Guragai signed the appointment agreement on behalf of Siuri Nyadi Power Limited, while Chief Executive Officer Mr. Deepesh Kumar Vaidya represented NMB Capital during the signing.
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About Siuri Nyadi Power Limited
Siuri Nyadi Power Limited (SNPL), situated in Lamjung District is in the construction phase of Upper Nyadi Hydropower Project with a capacity of 40.27 MW. The project will be developed on Nyadi River located in Marshyangdi Rural Municipality of Lamjung. Water from the river will be diverted into a desanding basin before flowing through a 6.76-kilometer tunnel to the powerhouse. Thereafter, the water will flow to the underground powerhouse through two penstock pipes to generate 235.46 GWh annually.
The company had signed Power Purchase Agreement (PPA) with Nepal Electricity Authority (NEA) in June last year. The company has said that the plant will help in reducing energy crisis in the country, according to a press statement issued by the company.