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Suryakunda Hydropower Has Selected Nepal SBI Merchant Banking As The manager For Its IPO Issuance – IPO News Nepal

Suryakunda Hydropower Limited has designated Nepal SBI Merchant as the manager for the issuance and sale of its IPO shares. The hydropower project intends to offer 2,000,000 ordinary shares to the public at a nominal value of Rs 100 each.

Mr. Satish Neupane, the Chairman of Suryakunda Hydropower, and Mr. Lekhnath Pokhrel, the Managing Director and Chief Executive Officer of Nepal SBI Merchant Banking Limited, conducted the signing agreement on behalf of their respective organizations.

Related: Budhanilkantha Heritage Hotel Limited Appoints Global IME Capital For Its IPO Issuance

About Suryakunda Hydropower Limited

Suryakunda Hydropower Limited, located in Ward No. 1 of Dupcheswar village in Nuwakot district, is currently in the construction phase as part of the Upper Tadi Khola Hydropower Project. The project, with a capacity of 11 MW, has achieved approximately 50 percent completion, with an estimated total cost of Rs 220 crore.

Nepal S.B.I Bank Ltd. has provided a loan of Rs 135 crore for the project. The majority of the investment in shares comes from Api Power Company. The project plans to install electromechanical components sourced from Lowell Energy Company in India and aims to become operational within the next 10 months.

Upon completion, the generated electricity will be connected to the Samundratar substation via an 8 km 33 KV double-circuit line, ultimately supplying power to the Matatirtha Kathmandu substation. This initiative adds to the group’s total production capacity of over 100 megawatts, making a significant contribution to the country’s renewable energy production.

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