Lower Irkhuwakhola Hydropower has appointed Muktinath Capital as the issue manager for its first public offering (IPO) of 21 lakh unit shares.

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In with issuance of 7 unit shares to project affected locals and 14 lakh unit shares to general public, Lower Irkhuwakhola Hydropower Company Limited, a 13-megawatt hydropower project in Bhojpur district, has appointed Capital as issue manager for the issuance of 14 unit shares to general public.

In midst of a programme, Mr. Bisweswor Subedi, the managing director of the hydro developer, and Mr. Kabindra Dhoj Joshi, the CEO of the merchant banker, signed the deal.

According to a press release, the hydropower firm is now working on a significant portion of the building work and hopes to commercial electricity generation as soon as possible.

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