KATHMANDU, Feb 10: Orbit Energy Limited is going to issue an Initial Public Offering (IPO) of its shares. The company has appointed Kumari Capital Limited as the issue and sales manager for the issuance of 5 million common shares at a face value of Rs 100 per share.
The agreement for the share issue was signed by Sudeep Khadka, General Manager of Orbit Energy, and Pushpa Sharma, Chief Executive Officer of Kumari Capital.
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Orbit Energy is constructing the 21.5 MW Sabha Khola B and 6.3 MW Sabha Khola C hydropower projects at Sabha Khola in Sabhapokhari Rural Municipality of Sankhuwasabha. The company has stated that approximately 55 percent of the construction work for the project has been completed.
The project has been equipped with state-of-the-art electromechanical equipment manufactured by India's FLOVEL Energy Private Limited and Italy's Troyer AG. The company has stated that the project will be operational within the next year.
