Balephi Hydropower Closing 1:1 Right Share from Poush 17

January 1, 2025 | Investopaper

Balephi Hydropower Limited (BHL) is currently selling the right shares to the shareholders. The company is issuing the right shares in the ratio 1:1. This means that shareholders’ with 100 shares can apply for the additional 100 right shares.

The right offering is open from Mangsir 27, 2081 BS and close on Poush 17, 2081 BS.

For this purpose, the company has announced the book closure date on Karthik 21, 2081 BS. Therefore, the investors holding/purchasing the shares of BHL until Karthik 20, 2081 BS will be eligible to purchase the right shares.

Securities Board of Nepal (SEBON) gave permission to the company on Karthik 4, 2081 BS. The hydropower company had submitted an application to the board on Chaitra 9, 2080 BS seeking permission for the right issuance. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.

As of Ashad’s end 2081 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.

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