The company is issuing 2:2 rights shares of its paid-up capital from August 20. Accordingly, It will issue a total of 4,032,875 units of right shares at a face value of Rs 100 to its existing shareholders.
The company closed its book on July 28 for the right issue, thus, the shareholders registered in its book till July 27 are eligible to apply for the right shares.
ICRA Nepal has assigned BB+ rating to the issuer indicating moderate risks.
The company has appointed Sanima Capital as issue manager. Interested existing shareholders can apply from all C-ASBA approved BFIs and Meroshare.
Currenty, the company has a paid-up capital of Rs 806.5 million that will reach Rs 1.20 billion after the right issue.
The company is operating 10 MW Sipring Khola Hydropower Project in Dolakha District. Moreover, it has decided to invest 40 percent i.e. Rs 442.6 million in 22 MW Mid-Honggu Khola ‘A’ in Solukhumbu District promoted by Apex Makalu Hydropower.
