Kathmandu: Darchula Power Limited, a subsidiary of Api Power Company, successfully held its Annual General Meeting (AGM) where shareholders unanimously approved all regular and special proposals, including the decision to launch an Initial Public Offering (IPO).
The company is currently fast-tracking the construction of the 28.304 MW Mid-Chameliya Hydropower Project in Darchula district, with an estimated total cost of around Rs 5.66 billion.
Key decisions passed at the AGM include approval of the annual report and financial statements for fiscal year 2081/82 (2024/25), authorization to increase authorized and issued capital, amendments to the company’s Memorandum and Articles of Association, and green light for issuing ordinary shares through an IPO to the general public.
Darchula Power has already signed an agreement with Muktinath Capital as its issue manager and has formally started the IPO process.
Company officials say the Mid-Chameliya project is making strong physical and financial progress, and the upcoming IPO will help raise additional funds to complete the remaining work and prepare for commercial generation in the near future.
With the AGM’s full backing, Darchula Power is now set to become the latest hydropower developer in Nepal to enter the stock market and offer shares to retail investors.
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