Gumukhola Bhyakure Hydropower Appoints RBB Merchant Banking as IPO Issue and Sales Manager

Gumukhola Bhyakure Hydropower Limited has appointed RBB Merchant Banking Limited as the issue and sales manager for its upcoming IPO of 500,000 ordinary shares targeted at the general public and project-affected residents. An agreement to this effect was signed by Mitra Bahadur Shrestha, Chairman of Gumukhola Bhyakure Hydropower, and Badri Prasad Pyakurel, Chief Executive Officer of RBB Merchant Banking.

The company is developing the Gumukhola Bhyakure Hydropower Project in Kalinchowk Rural Municipality of Dolakha district. The run-of-river project has an installed capacity of 950 kW and generates approximately 5.6 GWh of electricity annually. The electricity generated by the project is connected to the Nepal Electricity Authority’s Singati Substation through a 33 kV transmission line, according to the company.