. The annual general meeting of Darchula Power Company has been concluded.

The AGM unanimously endorsed the decision to issue initial public offering (IPO) along with the financial statements of the fiscal year 2081/82.

It is a subsidiary of Api Power Company. Currently, 28.304 MW Middle Chameliya Hydropower Project is under construction in Darchula district. The project is estimated to cost around Rs 5.66 billion.

The company has appointed Muktinath Capital as its issue manager. The meeting also approved the proposal to increase the authorized capital and issued capital of the company before the IPO and to make necessary amendments in the Memorandum of Association and Articles of Association accordingly.

On the occasion, Company Director Sanjiv Neupane said that the Middle Chameliya Hydropower Project has achieved a remarkable achievement so far.

According to him, the combination of speed of construction, contract management, material supply, local coordination and financial management has convinced the shareholders that the project will be completed before the deadline.