People’s Power Limited will issue 50% right shares starting from Asar 22, increasing its paid-up capital from NPR 63.26 crore to NPR 94.89 crore after the rights issue.
People’s Power Limited is set to issue a 50% right share offering beginning on Asar 22. The company plans to issue 6,326,000 shares at a face value of NPR 100 per share, with a rights issue ratio of 1:0.50. The company has already received approval from the Nepal Securities Board for this issuance.
The company had closed its share register (book closure) on Asar 2, which means only shareholders registered with the Nepal Stock Exchange (NEPSE) as of Asar 1 are eligible to apply for the rights shares. The deadline for submitting applications is Shrawan 11.
For this rights issue, CARE Ratings Nepal has assigned the company a “CARE-NP BB Issuer Rating,” indicating a higher-than-average risk in meeting financial obligations. Prabhu Capital Limited has been appointed to manage the issuance and sale of the rights shares.
Investors can apply through Prabhu Capital, the company’s official website, and branch offices of Prabhu Bank located in Ilam, Jawalakhel, Birgunj, Pokhara, Butwal, Surkhet, and Dhangadhi. Applications can also be submitted online via the C-ASBA system through participating banks and financial institutions, as well as through the Meroshare platform.
Currently, the company’s paid-up capital stands at NPR 63 crore 26 lakh. After the rights issue is completed, it will increase to NPR 94 crore 89 lakh.
This article was originally published on bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
