Balephi Hydropower to Issue 1:1 Right Share

July 10, 2024 | Investopaper

Balephi Hydropower Limited (BHL) is planning to sell right shares to the shareholders. The company had decided to issue right shares in the ratio 1:1. This means that shareholders’ with 100 shares can apply for the additional 100 right shares.

As of Chaitra’s end 2080 BS, Balephi Hydropower has a paid-up capital of Rs. 182.79 crores. Hence, BHL has plans to float 182.79 lakh shares in the right offering. At a par value of Rs 100, the right issue amounts to Rs 182.79 crores.

For this purpose, the hydropower company has submitted an application to the Securities Board of Nepal (SEBON) on Chaitra 9, 2080 BS. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.

The company has appointed NIMB Ace Capital Limited as issue and sales manager for the right offering. An agreement between the company and NIMB Ace Capital has been inked on this regard.

After the right issue, the paid-up capital will reach Rs. 365.58 crores.

The company is currently operating a 36 MW Upper Balephi ‘A’ Hydropower Project in Sindhupalchowk district.

Balephi hydropower has stated that it will repay the loans of the project through the amount received from the right offering.

36 MW Upper Balephi ‘A’ Hydroelectric Project Begins Commercial Electricity Production