Fedikhola Hydropower Company Limited has decided to issue ordinary shares (IPO) worth Rs 175 million. The decision was endorsed by the company’s general assembly.
The company is currently constructing the 4.3 MW Fedikhola (Thumlung) Hydropower Project at Salpasilichho Rural Municipality–6 in Bhojpur district. The project is expected to be completed by the end of Poush this year.
The estimated cost of the project was Rs 940 million; however, the floods of 15th Shrawan 2081 increased expenses by an additional Rs 40 million, bringing the total cost to Rs 980 million.
According to director Prakash Chandra Dulal, 49 percent of the investment (Rs 480 million) has been raised through equity from shareholders, while the remaining 51 percent (Rs 500 million) has been secured as a loan from Rastriya Banijya Bank.
The general assembly also decided to increase the company’s authorized capital by Rs 100 million, raising it from Rs 600 million to Rs 700 million. Out of this, 25 percent (Rs 175 million) will be issued to the general public as IPO, with the board of directors authorized to implement the process.
Additionally, the company committed to invest Rs 50 million in Wonders Energy’s 9 MW Khimti Gwangkhola Project and Rs 150 million in the 15 MW Irkhuwa Khola Hydropower Project.
Looking ahead, the company plans to move forward with projects totaling at least 100 MW capacity by 2090 BS.
The assembly also finalized the board composition for the next four-year term, appointing founders Chandra Prasad Banskota, Prakash Chandra Dulal, and Kavita Adhikari as directors.
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