It has been decided to increase the capital of the company by 10 crores to 70 crores from 600 crores and issue shares of 25% i.e. 175 million rupees to the general public.
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Fedikhola Hydropower Company Limited is going to issue shares worth 175 million rupees to the general public. The decision was taken by the first general meeting of the company.
The company said that the 4.3 megawatt hydropower project under construction at Thumlung in Fedikhola will be completed by the end of next month. The company has informed that the estimated cost of 94 crores for the construction of the
project will increase by 40 crores due to the flood of 15th July 2081 and the total cost will reach 980 crores. 49 percent of the total cost i.e. 480 million equity and the remaining 51 percent i.e. 500 million loan from National Commercial Bank.
The general assembly has decided to increase the capital of the company by 10 crores to 70 crores from 600 crores and to issue 25 percent of it i.e. 175 million rupees to the general public. The board of directors is empowered to issue
shares. According to the rules of the company, Chandra Prasad Vastola, Prakashchandra Dulal and Kavita Adhikari have been selected from the founder (a) group for the next term of 4 years as there will be 5 directors.
