Balephi Hydropower To Issue 1:1 Right Share

July 19, 2023 | Investopaper

Balephi Hydropower Limited (BHL) is planning to sell right shares to the shareholders. The hydropower company has revised the right share ratio.

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.

Previously, the board meeting of the company held on Falgun 12, 2079 BS, had proposed to issue the right shares in the ratio 2:1.

As of Ashad’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.

The hydropower company will begin the procedures for the right offering after the approval from its upcoming general meeting.

After the endorsement from AGM, the company needs to appoint the issue and sales manager for the right offering. Then, it should submit the application to the Securities Board Of Nepal (SEBON) seeking permission to float the shares. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.

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.


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