KBNR Isuwa Power Ltd. has appointed Jyoti Capital Limited as the underwriter for its upcoming Initial Public Offering (IPO). The company plans to issue 1.19 crore ordinary shares with a total issue size of Rs. 1.19 billion, marking a significant step toward raising capital from the public market.
The underwriting agreement was formally signed by Jyoti Capital Chief Executive Officer Bikash Dhakal and KBNR Isuwa Power Chief Executive Officer Ananta Karki during a ceremony held at Jyoti Capital's head office in Kamalpokhari, Kathmandu. Under the agreement, Jyoti Capital will underwrite the public issue, providing additional assurance for the successful execution of the IPO.
An underwriter plays a key role in an IPO by guaranteeing the subscription of shares that remain unsubscribed during the public offering, thereby reducing fundraising risk for the issuing company and strengthening investor confidence.
Jyoti Capital Limited, a wholly owned subsidiary of Jyoti Bikas Bank Limited, is a licensed merchant banker offering a range of capital market services, including issue management, underwriting, portfolio and investment management, and share registrar services. The appointment reinforces the company's preparations for its planned public offering, with further details regarding the IPO schedule expected to be announced after obtaining the necessary regulatory approvals.
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