Phedi Khola Hydropower Company Limited is preparing to issue an IPO worth Rs 17.50 crore. The decision was taken in the company’s recent general meeting to raise funds by offering ordinary shares to the public.
About Phedi Khola Hydropower Company
The company is currently building a 4.3 MW hydropower project at Thumlung in Bhojpur district. The project is expected to be completed by the end of Poush. The estimated cost of the project was initially set at Rs 94 crore. However, the floods on 15th Shrawan 2081 increased the expenses, bringing the total cost to Rs 98 crore.
Out of the total investment, Rs 48 crore, or 49 percent, is being managed through the company’s own capital. The remaining Rs 50 crore is being financed through a loan from Rastriya Banijya Bank.
To support the IPO plan, the company has increased its authorized capital from Rs 60 crore to Rs 70 crore. Out of this, 25 percent, equal to Rs 17.50 crore, will be issued as an IPO.
Apart from the Phedi Khola project, the company has also decided to invest in two other projects. It will put Rs 5 crore into the 9 MW Khimi Gwang Khola project and Rs 15 crore into the 15 MW Irkhuwa Khola project.
Phedi Khola Hydropower has set a long-term goal. By the year 2090, it aims to operate projects with a combined capacity of at least 100 MW.
