The company will issue 12 million units of right shares worth Rs 1.20 billion at a ratio of 1:0.75.
The company closed its book on May 10 thus the shareholders registered in its book till May 9 will be eligible to apply for the right shares.
Care Ratings has assigned B+ rating to the issue indicating huge risks.
The company has appointed Laxmi Capital as its issue manager. Interested investors can apply from Laxmi Capital, Himalayan Dolkha and Illam Branch of Laxmi Bank. Moreover, they can apply from all ASBA approved BFIs and meroshare.
Currently, the company has paid-up capital of Rs 1.60 billion which will reach Rs 2.80 billion after the right issue.
Currently, the company is operating 4.5 MW Mai Khola Small Hydropower and 8MW Mai Small Cascade Hydropower Project.
