Terhathum Power Company has extended the application deadline for its 100% rights share issue, now closing on Shrawan 11.
Terhathum Power Company Limited has extended the deadline for its ongoing 100% rights share issuance until Shrawan 11, 2081 B.S. The company is offering 40 lakh units of rights shares at a par value of Rs. 100 per share in a 1:1 ratio to its existing shareholders, totaling Rs. 40 crore in issue size. The book closure for the rights offering was announced on Jestha 5, meaning only those shareholders who held shares until Jestha 4 are eligible to apply.
ICRA Nepal has assigned the company a credit rating of ‘ICRA NP BB’, indicating a moderate level of risk. Nabil Investment Banking Limited is the issue manager. Eligible shareholders may apply for the rights shares through designated branches of Nabil Bank in Chhathar, Myanglung, and Fedap Sankranti Bazar, as well as Kumari Bank’s Menchhyayem branch. Applications can also be submitted via any ASBA-participating bank or financial institution across Nepal.
At present, the company’s paid-up capital stands at Rs. 40 crore, which will double to Rs. 80 crore following the allotment of rights shares. The proceeds from this offering will be used to partially repay loans exceeding Rs. 92.61 crore borrowed from three commercial banks. Specifically, Terhathum Power plans to repay Rs. 16 crore to Machhapuchchhre Bank and Rs. 12 crore each to Nabil Bank and Global IME Bank.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
