Kathmandu. Darchula Power Limited is issuing 20 percent of its issued capital to the general public. The company has appointed Muktinath Capital Limited as the issue manager of the securities.
Chairman of Darchula Power Limited Satish Neupane and Chief Executive Officer of Muktinath Capital Kabindra Dhwaj Joshi signed the agreement.
As per the agreement, the company will issue 3 million units of ordinary shares at a face value of Rs 100. The total value of which will be Rs 30 crore.
Darchula Power Limited is a company established for the development and operation of hydropower projects. It is constructing the 28.304 MW Madhya Chamelia Hydropower Project based on Chamelia Rivulet at Marma Rural Municipality in Darchula district of sudurpaschim state. According to the company, the plan is to complete the run-of-the-river project within the next one-and-a-half years and connect it to the national transmission line.
The company’s chief promoter and investor is Api Power Company Limited. As an established company in the power sector, Api Power has taken the main share ownership of the project and will invest the required self-capital for the development of the project.
