NIBL Capital Markets Ltd, a subsidiary of Nepal Investment Bank Ltd, has signed agreements with two hydropower companies -- United Modi Hydropower Pvt Ltd and Api Power Company Ltd -- to act as the issue manager and underwriter for their respective initial public offerings (IPOs).

NIBL Capital Market Chief Executive Officer Shivanth B Pandé and United Modi Managing Director Sudhir P Timilsina signed an agreement on Wednesday to issue 4,000,000 units of common stock at Rs 100 per share, according to a statement from NIBL Capital.

Similarly, Api Power Chairman Guru Prasad Neupane and NIBL Capital General Manager Ram Krishna Khatiwada signed an agreement on January 16 to issue up to 2,046,240 units of common stock at Rs 100 per share.