Nepal Life Insurance to Invest Rs. 50 Crores in Mewa Developers Limited
October 21, 2024 | Investopaper
Nepal Life Insurance Company Limited (NLIC) is going to invest Rs. 50 crores in the shares of Mewa Developers Limited. An agreement has reached between the two companies on this regard.
As informed on Nepse, NLIC has agreed to purchase 50,00,000 shares of Mewa Developers Limited. At a price of Rs. 100, the total investment amounts to Rs. 50 crores.
Mewa Developers, incorporated on July 8, 2016, is currently developing two hydropower projects- a 73.5 MW Middle Mewa Hydropower Project and a 9.3 MW Siwa Khola Hydropower Project Mikhuwa Khola Rural Municipality of Taplejung district. Both the projects are peaking run-of-river projects.
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