Sabhapokhari Hydropower Signs Agreement with Garima Capital for IPO Underwriting
Garima Capital Limited will underwrite the 1,075,000 ordinary shares that Sabhapokhari Hydropower Limited is issuing to the general public. The agreement was signed on Ashwin 28.
Garima Capital Limited and Sabhapokhari Hydropower Limited have signed an agreement on Ashwin 28 regarding the underwriting of an Initial Public Offering (IPO).
According to the agreement, Garima Capital Limited will underwrite a total of 1,075,000 ordinary shares that Sabhapokhari Hydropower Limited is issuing to the general public, at a rate of Rs 100 per share, amounting to a total of Rs 107.5 million.
The agreement was signed at a program held at Garima Capital Limited's head office in Kamalpokhari. Ashok Suvedi, Acting Chief Executive Officer of Garima Capital Limited, and Shriram Devkota, Managing Director of Sabhapokhari Hydropower Limited, signed the agreement letter on behalf of their respective companies.
The project operated by Sabhapokhari Hydropower Limited is the 5 MW Lankhuwa Khola Small Hydropower Project located in Sabhapokhari Rural Municipality Ward No. 3, Sankhuwasabha district. The project was completed in Magh 2081 and is connected to the national transmission system via a 33 kV transmission line through the Tumlingtar substation.
Garima Capital Limited, a subsidiary of Garima Development Bank Limited, is a licensed merchant banker from the Nepal Securities Board. The institution has established its presence in the capital market through the following services:
- Investment management services
- Depository participant services
- Demat and MeroShare account services
- Securities issuance and sales management
- Securities underwriting services
- Garima Mutual Fund management
- Depository services
- Securities share registration and institutional advisory
Garima Capital Limited's services are facilitated to customers through the branch offices of Garima Development Bank Limited. The institution has expressed its commitment to move forward by using various latest technologies to provide its services in an even more refined and customer-friendly manner.