United Modi Hydropower Company and Api Power Company will be issuing shares to the public. NIBL Capital Markets — a merchant banking subsidiary of Nepal Investment Bank — has been appointed as issue manager and underwriter of the two IPOs. United Modi will be issuing four million shares worth Rs 400 million. Api Power will issue up to 2.05 million unit shares worth Rs 205 million at a face value of Rs 100. United Modi runs the 10MW Lower Modi-1 Hydropower Project in Parbat and is now constructing 10.5MW Lower Modi-2 Hydropower Project as the second part of the cascade project. Api Power has started construction of 8.5MW Naugard Gad Project in Darchula.
Source : The Himalayan Times
KATHMANDU: NIBL Capital Markets Ltd, a subsidiary of Nepal Investment Bank Ltd, has signed agreements with two hydropower companies — United Modi Hydropower Pvt Ltd and Api Power Company Ltd — to act as the issue manager and underwriter for their respective initial public offerings (IPOs).
NIBL Capital Market Chief Executive Officer Shivanth B Pandé and United Modi Managing Director Sudhir P Timilsina signed an agreement on Wednesday to issue 4,000,000 units of common stock at Rs 100 per share, according to a statement from NIBL Capital.
Similarly, Api Power Chairman Guru Prasad Neupane and NIBL Capital General Manager Ram Krishna Khatiwada signed an agreement on January 16 to issue up to 2,046,240 units of common stock at Rs 100 per share.
Source : Republica