Habitat Power Company to Raise Rs. 55 Crore Through IPO, Appoints Muktinath Capital as Manager
Habitat Power Company Limited, led by Singati Hydro Energy Ltd., is set to raise Rs. 55 crores by issuing 11,00,000 ordinary shares at a price of Rs. 100 per share.
The company has appointed Muktinath Capital Limited as its Securities Issuance and Sales Manager to oversee the process.
The share allocation will be divided as follows:
- 10% (5,50,000 shares) reserved for residents of the areas impacted by the project.
- The remaining 10% (5,50,000 shares) will be available to the general public.
The agreement for the share issuance was signed by Mr. Batu Lamichhane, Executive Chairman of Habitat Power Company, and Mr. Kabindra Dhoj Joshi, CEO of Muktinath Capital.
Meanwhile, construction on the Hewakhola Small Hydropower Project in Panchthar District is progressing, with 70% of the work completed. The project is expected to be fully completed by the end of Chaitra this year, with an estimated cost of Rs. 19 crore.