KATHMANDU, Aug 17: Fedikhola Hydropower Company Ltd has announced plans to issue an IPO worth Rs 175 million to the general public.
A general meeting held on Friday decided to increase the company’s authorized capital to Rs 700 million, of which 25 percent (Rs 175 million) will be issued to the public. The meeting also authorized the board of directors to implement the decision.
The 4.3 MW project, under construction in Salpasilihcho of Bhojpur, is targeted for completion by the end of Poush 2082.
According to the company, the project is estimated to cost Rs 980 million. Of this, 49 percent (Rs 480 million) will come from shareholders’ equity, while the remaining 51 percent (Rs 500 million) has been secured through loans from Rastriya Banijya Bank.