NIBL Capital Markets Limited, a subsidiary of Nepal Investment Bank Limited, has signed an agreement with Garjang Valley Hydropower Ltd. for its IPO. NIBL Capital Markets Ltd. will be the issue manager.

The agreement was signed between Mr. Mekh B. Thapa, General Manager of NIBL Capital Markets Ltd. and Mr. Arun Kumar Subedi of Garjang Valley Hydropower Ltd. in the premises of NIBL Capital Markets Ltd. in Lazimpat on 3/April/2015.

The IPO is of 5,22,600 shares at face value of Rs. 100. The total IPO amount is of Rs. 5,22,60,000.

The 2.83 MW project is situated at Chake Khole, Chure VDC in Ramechhap District. Last acquisition for the project has been completed and the IPO is expected to be opened for the affected areas within this fiscal year.