Arun Kabeli Power Company Limited has received pre-approval from the Electricity Regulatory Commission to issue right shares. The approval allows the company to issue rights shares equivalent to 50% of its current paid-up capital of Rs. 3 arba 89 crore 59 lakh 42 thousand 100, in a ratio of 1:0.5.
Accordingly, the company will proceed with the issuance of right shares worth Rs. 1 arba 94 crore 79 lakh 71 thousand 50.
The commission has also set specific conditions regarding the utilization of the proceeds. As per the directive, Rs. 1 arba must be used to repay loans taken for the construction of the Kabeli B-1 Hydropower Project. The remaining Rs. 94 crore 79 lakh is required to be invested in Kabeli Energy, the promoter company of the 37.6 MW Kabeli ‘A’ Hydropower Project. The company must inform the commission with necessary documents within 15 days of making this investment.
Additionally, the company is required to obtain any further approvals or consents from relevant authorities as per prevailing laws and notify the commission accordingly.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
