Sahas Urja Limited had submitted an application to the Nepal Securities Board (SEBON) on Tuesday to issue 100% rights shares at a 1:1 ratio. However, the following day, the company’s name disappeared from SEBON’s public ‘pipeline’ list, raising concerns and uncertainty among investors.
According to SEBON sources, this was not a technical issue. The removal occurred because the company did not submit all required documents. Under regulations, hydropower companies must obtain prior approval from the Electricity Regulatory Commission before issuing rights shares. Sahas Urja had submitted the application without attaching this approval, leading to its temporary removal from the pipeline list. Once the company submits the necessary documents, it will be reinstated.
The company had proposed to issue 4,57,38,000 rights shares at a 1:1 ratio, aiming to raise NPR 4.5738 billion. NMB Capital Limited has been appointed as the issue manager for this rights share issuance.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
