August 23, 2023 | Investopaper
Arun Valley Hydropower Development Company Limited (AHPC) is going to sell right shares to the shareholders. The company has plans to float the right shares in the ratio 1:1. This means that the shareholders with 100 shares can apply for the additional 100 shares.
For this purpose, the company has submitted an application to the Securities Board Of Nepal (SEBON) 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 already given the permission to the right offering.
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 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.