Jhyamolongma Hydropower Calls AGM With Agenda To Issue IPO To General Public

Fri, Mar 15, 2024 12:59 PM on Latest, IPO/FPO News,

Jhyamolongma Hydropower Development Company Limited has called its 22nd AGM 24th Chaitra, 2080. The meeting will be held in the Pokhara-7, Kaski, starting at 11:00 AM.

These are the agendas of the AGM:

1) Endorsement of the annual report of the company.
2) Endorse the auditor's report for 2078/79 and 2079/80 with PNL statements, financial reports, and cash flow reports.
3) Appointment of the auditor and determination of their remuneration for the fiscal year 2080/81.
4) To approve decision to the increase the capital of the company.
5) To issue ordinary shares (IPO) to the general public.
6) Miscellaneous.

CARE Ratings Nepal Limited (CRNL) has assigned the rating of ‘CARE-NP BB’ to the long-term bank facilities of Jhyamolongma Hydropower Development Company Limited (JHDC).

Jhyamolongma Hydropower Development Company Limited (JHDC) was initially incorporated as a private limited company on May 18, 2001, and later converted into a public limited company on July 3, 2022. The company, primarily backed by individuals affiliated with the K.C group of companies, aims to establish the Karuwa Seti Hydropower Project (KSHP), a 32 MW run-of-river project located in Ranipauwa-11, Pokhara, Kaski district of Nepal. KSHP will harness the flow and head of the Seti Khola, originating from the Annapurna and Machhapuchre Himalayas in Nepal. The project encompasses a catchment area of 234 km2 and has a designed discharge of 15.30 m3/s at a 41.7% exceedance flow.