Machhapuchchhre Capital Appointed as Issue Manager for Sumnima Hydropower IPO
Sumnima Hydropower appoints Machhapuchchhre Capital as institutional advisor and issue manager for its 20% IPO. The project focuses on a 4.9 MW hydropower plant in Bhojpur.
Sumnima Hydropower Company Limited has appointed Machhapuchchhre Capital Limited as its institutional advisor, issuance, and sales manager for its initial public offering (IPO), the two firms announced on 2082/07/02.
Under the agreement, Sumnima Hydropower plans to offer 20% of its ordinary shares to the public, signaling the company’s first major step toward mobilizing capital through the Nepalese securities market.
The signing ceremony was attended by Upendra Malakar, CEO of Machhapuchchhre Capital, and Ashish Subedi, Chairperson of Sumnima Hydropower.
Sumnima Hydropower is currently developing the Upper Pikhwa Hydropower Project, a 4.9 MW plant harnessing the Pikhwa River in Bhojpur. Machhapuchchhre Capital, a subsidiary of Machhapuchchhre Bank, provides a range of capital market services, including securities issuance, investment management, and advisory services.
Industry analysts note that this IPO will allow investors to participate in a small-scale, yet strategically significant renewable energy project, as hydropower remains a critical sector in Nepal’s energy expansion.