Joshi Hydropower Development Company Limited has received approval to issue 65% rights shares starting from Shrawan 15, aiming to raise funds for debt repayment and maintenance of its Upper Puwa 1 Hydropower Project.
Joshi Hydropower Development Company Limited will begin issuing 65% rights shares from Shrawan 15. The company received approval from the Nepal Securities Board on Jestha 26 to issue a total of 2,414,100 rights shares at the rate of 100 rupees per share, in a ratio of 1 share to 0.65 shares.
The company had already closed its share register on Ashad 8. Therefore, only shareholders registered with the Nepal Stock Exchange (NEPSE) by Ashad 7 will be eligible to apply. The final date to submit applications is Bhadra 4.
Currently, the company’s paid-up capital stands at 37 crore 14 lakh rupees. After the rights issue, it will increase to 61 crore 28 lakh 10 thousand rupees. The funds raised through this rights issue will be used for repaying loans and maintaining the Upper Puwa 1 (3 MW) Hydropower Project.
LS Capital Limited is the issue manager for this rights share offering.
This article was originally published on https://bajarkochirfar.com Translated with the help of AI and reviewed by our editorial team.
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