Banking News – KBNR Iswa Power Limited has appointed Jyoti Capital Limited as the issue and sales manager for its upcoming Initial Public Offering (IPO) to the general public.

The two companies have signed an agreement formalizing the appointment. The agreement was signed by Bikash Dhakal, Chief Executive Officer of Jyoti Capital, and Ananta Karki, Chief Executive Officer of KBNR Iswa Power Limited.

Under its IPO plan, KBNR Iswa Power is preparing to issue 11.9 million ordinary shares with a face value of Rs 100 per share, amounting to a total offering of Rs 1.19 billion.

Jyoti Capital Limited, a subsidiary of Jyoti Bikash Bank, has a paid-up capital of Rs 210 million and will manage the public issuance process as the company’s appointed issue and sales manager.