Ankhu Khola Jalbidhyut Company Closing 1:1.5 Right Share from Bhadra 16
September 1, 2024 | Investopaper
Ankhu Khola Jalbidhyut Company Limited (AKJCL) is currently selling the right shares to the shareholders from Shrawan 27, 2081 BS. The hydropower company is floating the right shares in the ratio 1:1.5. This means that the shareholders with 100 shares can apply for the additional 150 shares.
The right offering will close on Bhadra 16, 2081 BS.
For this purpose, the company had announced the book closure date on Shrawan 1, 2081 BS. Therefore, the investors purchasing/holding the shares of AKJCL until Ashad 31, 2081 BS are eligible to subscribe the right shares.
The company received approval from the Securities Board Of Nepal (SEBON) on Ashad 19, 2081 BS for the right offering. The company had submitted the application to the board on Bhadra 21, 2080 BS seeking permission to float the right shares. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
Electricity Regulatory Commission has already given the approval to the company for the right offering.
Earlier, the company had proposed to issue right in the ratio 1:2. However, as per the direction of Electricity Regulatory Commission, the company has amended the ratio of right offering.
Nabil Investment Banking Limited is the issue and the sales manager for the right issue.
The company is trying to raise funds for the investment in 20 MW Ankhu Khola-2 Hydroelectric Project in Dhading district. The project is promoted by Ganesh Himal Hydropower. Ankhu Khola Jalbidhyut Company will have a minimum of 60 percent ownership in the project.
At present, AKJCL has a paid up capital of Rs. 80 crores. Hence, the company has plans to sell right shares worth Rs. 120 crores. After the right issue, the paid-up capital will reach Rs. 200 crores.
The company is planning to invest Rs. 96 crores in the 20 MW project as equity. Likewise, the remaining amount from the right offering will be used to pay off the debt of banks and financial institutions taken by the company.
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अहिले को साधारण सभा right को book क्लोसे हो कि right निस्कासन तयरी हो