Habitat Power appoints its sales manger, preparing to issue IPO

KATHMANDU, SEPTEMBER 4: Singati Hydro Energy's chief promoter, Habitat Power Company, is preparing to issue an IPO (Initial Public Offering). The company has started the process of issuing the IPO by appointing Muktinath Capital as the securities issuance and sales manager.

The company plans to issue 11 lakh (1.1 million) ordinary shares with a face value of NPR 100 each, representing 20% of its NPR 550 million issued capital. Out of this, 10% (5.5 lakh shares) will be allocated to the local residents of the project-affected area, and the remaining 10% (5.5 lakh shares) will be offered to the general public.

With the appointment of the sales manager, the company has stated that it will now proceed with obtaining approval from the regulatory authority. The company is currently constructing the Hewakhola A small hydropower project with a capacity of 9.9 MW in the Panchthar district.

The construction of this project is 70% complete, and the company aims to complete it by the end of the upcoming Chaitra (mid-April). According to the company, the cost per megawatt for this project is NPR 190 million.