Arun Valley Hydropower Closing 1:1 Right Share from Today
March 20, 2024 | Investopaper
Arun Valley Hydropower Development Company Limited (AHPC) is currently selling the right shares to the shareholders. The company is floating the right shares in the ratio 1:1. This means that the shareholders with 100 shares can apply for the additional 100 shares.
The right offering is open from Falgun 17, 2080 BS and will close on Chaitra 7, 2080 BS.
For this purpose, the company had announced the book closure date on Magh 15, 2080 BS. Therefore, the investors holding/purchasing the shares of AHPC until Magh 14, 2080 BS, will be eligible to purchase the right shares.
Securities Board Of Nepal (SEBON) gave the permission to the company on Poush 19, 2080 BS. The company had submitted an application to the board on Shrawan 24, 2080 BS. Only after the approval from the regulatory body SEBON, the company can sell the shares.
Electricity Regulatory Commission (ERC) has also given the permission to the right offering. Likewise, the company has already approved the agenda of issuing right share from its Special General Meeting held on Ashad 7, 2080 BS.
At present, AHPC has a paid up capital of Rs. 186.79 crores. Hence, the company has plans to sell 1,86,79,626 right shares worth Rs. 186.79 crores. After the right issue, the paid-up capital will reach Rs. 373.58 crores.
The company is trying to raise funds of Rs. 93.39 crores for the equity investment in PK Hydropower P. Ltd. which is developing a 30 MW Likhu Khola Hydropower Project. Likewise, AHPC has plans to pay debt worth Rs. 93.39 crores of Kabeli-B1 Cascade Hydroelectric project.
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I pay the amount in time for right share but it shows insufficient balence . What is the causes behind it