Puwa Khola-1 Hydropower Limited has appointed LS Capital Limited as the manager for handling the issuance and sale of its IPO shares. The company plans to offer 1,946,660 ordinary shares to the general public at a face value of Rs 100 per share.
Mr. Kadam KC, the Managing Director of Puwa Khola-1 Hydropower, and Mr. Bijaya Lal Shrestha, the Chief Executive Officer of Laxmi Sunrise Capital Limited, signed the agreement. Puwa Khola-1 Hydropower Limited has successfully completed and commenced operations of its 4 MW hydropower project situated in Ilam district.
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The minimum number of units required to apply for the IPO has not been disclosed at this time. Additional details regarding the IPO issuance and the minimum application amount will be announced in the coming days.
About Puwa Khola- 1 Hydropower Limited
The Puwa Khola Hydropower Station, a run-of-river facility situated in Golakharka, Ilam, boasts an installed capacity of 6.2 MW and an annual design generation of 48 GWh. Commencing operations in 1999 AD, this station was collaboratively developed by the Government of Nepal and NEA, with an investment totaling USD 15.7 million. It stands as NEA's primary sizable hydropower plant in Eastern Nepal, comprising two units, each with a capacity of 3.1 MW.
Since its inception, the station has generated a cumulative total of 357.13 GWh up to the fiscal year 2011/12. Notably, its generation output experienced a slight decline, producing 31.55 GWh in FY 2010/11 and 28.33 GWh in FY 2011/12, marking a decrease of 10.2%. Despite this, the station's contribution to the total energy output of the INPS in 2011/12 amounted to 0.68%.