Peoples Power Limited has opened its rights share issuance from Asar 22 at a 50% ratio, offering 3.163 million shares worth Rs. 31.63 crore to eligible shareholders.
Peoples Power Limited has commenced the issuance and sale of rights shares starting from Asar 22. The company is offering the rights shares at a 50% ratio based on its current paid-up capital, meaning shareholders can apply for 5 new shares for every 10 shares they currently hold. A total of 3,163,000 rights shares are being issued at a par value of Rs. 100 per share, amounting to Rs. 31.63 crore in total.
The company had closed its books on Asar 2 for the rights issue. Therefore, only shareholders who held shares until Asar 1 are eligible to apply. The application deadline is Shrawan 11.
In terms of credit rating, CARE Ratings Nepal has assigned a “CARE-NP BB Issuer Rating” to the company. This rating indicates a moderate level of risk regarding the company’s ability to meet its financial obligations on time.
Prabhu Capital Limited is managing the rights share issuance and sale. Interested investors can apply through designated branches of Prabhu Bank located in Ilam, Jawalakhel (Lalitpur), Birgunj, Pokhara, Butwal, Surkhet, and Dhangadhi. Additionally, applications can be submitted online using the “Mero Share” platform provided by CDSC or through C-ASBA member banks and financial institutions licensed by the Nepal Securities Board.
Currently, the company’s paid-up capital stands at Rs. 63.26 crore, which will increase to Rs. 94.89 crore after the allotment of the rights shares.
This article was originally published on https://bajarkochirfar.com Translated with the help of AI and reviewed by our editorial team.
