Kathmandu. Upper Richet Hydropower Pvt Ltd has prepared to issue IPO for general public. The company has appointed RBB Merchant Banking Limited as the issue and sales manager. The agreement was signed by the executive chairman of the company, Anand Pradhan, and the bank's chief executive officer, Badri Pakurel.

It is planned to offer 20 percent of the company's 400 million paid-up capital, i.e., 800,000 shares, to the general public through an IPO in the coming months of Shravan-Bhadra. Upper Richet Hydropower has started generating electricity from Bhadra 2081. The project is located at Wasisthan Gabis in Gorkha District.