Gumukhola Bhakure Hydropower Limited has appointed RBB Merchant Banking Limited as its issue manager to launch 5 lakh units of IPO shares for local residents and general public.
Gumukhola Bhakure Hydropower Limited is preparing to bring its Initial Public Offering (IPO) for the general public and local residents of project-affected area. To manage the share sale, company has appointed RBB Merchant Banking Limited as the issue and sales manager.
The agreement for the IPO issuance was signed between the two companies. Mitra Bahadur Shrestha, who is Chairman of Gumukhola Bhakure Hydropower, and Badri Prasad Pyakurel, Chief Executive Officer of RBB Merchant Banking Limited, signed the agreement paper.
About the Hydropower Project
The company currently operates a 950 kilowatt capacity Gumukhola Bhakure Hydropower Project. This project is located in Kalinchowk Rural Municipality of Dolakha district. The hydro project is based on Run of River technology.
According to the company, this project produces about 5.6 Gigawatt hours of electricity every year. The electricity produced from this project is connected to Singati substation of Nepal Electricity Authority through 33 KV transmission line.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
