The company sought approval to issue 40 percent right shares after seeking approval to issue 30 percent right shares from Securities Board of Nepal.
The company sought approval to issue the right shares from the commission of the paid-up capital maintained after the 30 percent right shares.
As per the company, it will use the fund acquired through right issue to pay the loan that it is seeking from Bank of Kathmandu and Kumari Bank the lenders for its ongoing Upper Chandi Khola Small Hydropower Project (4MW). According to the company, the cost of the hydropower project has increased due to the lockdown and flood.
The paid-up capital of the company will reach Rs 386.9 million after 30 percent right issue which is in pipeline in SEBON. The capital will reach Rs 541.7 million after the 40 percent right issue.
