The stock exchange adjusted the stock price of the company at Rs 363.27 after adjusting 39.363 percent right shares. The last trading price of the stock was Rs 466.90 on March 27.
Api Power is issuing 10,860,000 units of right shares at a ratio of 1:0.3936 to its existing shareholders from April 8-March 27.
The company closed its books on March 28, thus, the shareholders registered in its book till March 27 are eligible to apply for the right shares.
The company has appointed Muktinath Capital as its issue manager. The interested investors can apply from Muktinath Capital and Itahari, Pokhara-Nagdhunga, Narayangadh, Surkhet, Nepalgunj, Dhangadhi, Biratnagar and Janakpur branch of Muktinath Bikas Bank. Similarly, they can apply from Baitadi, Gokuleshwor, Darchula, Mahendranagar, Dhangadhi and Attariya branch of Global IME Bank.
Moreover, they can apply from all ASBA approved BFIs and meroshare software till April 28.
Care Ratings Nepal has assigned B+ rating to the issue indicating huge risk.
After the capitalization of the right issue, the paid-up capital of the company will reach Rs 3.84 billion.
