Prabhu Capital is the share guarantor of Upper Syange Hydropower

KATHMANDU: NOV. 17 – Upper Syange Hydropower Limited has appointed Prabhu Capital Limited as the share guarantor for the 870,000 shares to be issued to the locals and general public.

The agreement regarding the appointment was reached on Wednesday, the company said. The agreement was signed by Executive Chairman Bir Bahadur Ghale on behalf of Upper Syange Hydropower Limited and Managing Director Dinesh Thakali on behalf of Prabhu Capital Limited.

The company is constructing a 2.4 MW capacity hydropower project on Syange River in Marsyangdi Rural Municipality-4 of Lamjung district.

The company’s physical work is in the final stages and the company is preparing to apply to the Electricity Regulatory Commission for permission to issue shares, said Bir Bahadur Ghale, executive chairman of the company.