Jhyamolongma Hydropower Launches IPO with Laxmi Sunrise Capital as Sales Manager
Jhyamolongma Hydropower Development Company Limited has exciting news for the public! They’re gearing up to offer an Initial Public Offering (IPO) to the general populace, aiming to issue 5.1 million shares at a par value of Rs. 100 each. With this move, the company is set to raise funds and broaden its ownership base. Laxmi Sunrise (LS) Capital has been entrusted with the responsibility of managing the IPO sales, a significant step towards ensuring a successful offering.
The agreement for this collaboration was recently formalized between Sunil Narayan Shrestha, the Executive Director of Jhyamolongma Hydropower, and Bijay Lal Shrestha, the Chief Executive Officer of LS Capital, at the company’s corporate office in Kupondole, Lalitpur.
Excitingly, Jhyamolongma Hydropower has achieved a remarkable milestone in the construction of the Karuwa Hydropower Project, boasting a capacity of 32 MW. As construction nears completion, approximately 90% of the work has been successfully undertaken. Post-completion, the focus will shift towards connecting to the national transmission line and commencing electricity generation within the current fiscal year.
This endeavor signifies a significant stride towards contributing to the country’s energy sector and fostering sustainable development.”