The company is issuing 110 million units of right shares at a face value of Rs 100 to its existing shareholders.
The company closed its book on October 20 for the right issue thus, the shareholders registered in its book till October 19 can apply for the right shares. The issue will close on December 17.
Infomatrics Credit Rating Nepal has assigned B rating to the issuer indicating high risks.
The company has appointed Muktinath Capital as issue manager. The interested investors can apply from Ghalemdi Hydro, Muktinath Capital as well as designated branches of Muktinath Bikas Bank, Prabhu Bank and Garima Bikas Bank.
Moreover, they can apply from all ASBA approved BFIs and Meroshare.
Currently, the company ha a paid-up capital of Rs 550 million which will reach Rs 1.65 billion after the right issue.
As per the company, it is issuing the right shares in a bid to maintain at least 51 percent ownership in Chujung Khola Jalvidhyut Project being developed in Sankhuwasabha by Sangrila Urja Pvt. Ltd.
