September 11: Garjyang Upatyaka Hydropower has announced that it will make an initial public offering of 522 thousand shares of its Chakekhola Hydropower project. 

The project, which is to be built in Chuhure, Ramechhap will have an installed capacity of 83 thousand megawatts, and according to estimates, it will cost Rs 479 million.

"We will issue the IPO in the first few weeks of Mangsir," said the company's Managing Director Arun Kumar Subedi. According to the company, of the 522 thousand shares on offer, 174 thousand shares have been set aside for locals (residents of Ramechhap District, and Dolakha's Jiri municipality and Shyama VDC). The rest will be available for the general public, according to the company.

The company has designated NIDL Capital Market as its issue manager.