Darchula Power Limited AGM Endorses IPO Plan and Reviews Project Progress

Darchula Power Limited successfully held its Annual General Meeting (AGM) on Mangsir 12. The meeting unanimously approved all general and special proposals, including the financial statements for FY 2081/82 and the plan to issue an Initial Public Offering (IPO).

The company, a subsidiary of Api Power Company Limited, is currently constructing the 28.304 MW Mid-Chamelia Hydropower Project in Darchula, with an estimated cost of around Rs 566 crore. The project is progressing rapidly.

The AGM endorsed the annual report, highlighting physical progress, financial management, operational challenges, and future strategies. All financial statements were approved, and the company’s transparency in cost control and project-focused spending was praised.

The AGM also approved the proposal to issue ordinary shares through an IPO, for which the company has already partnered with Muktinath Capital. The authorized and issued capital will be increased accordingly. Directors stated that the project is advancing effectively and is likely to be completed ahead of schedule due to efficient management, coordination, and resource handling.