Barun Hydropower To Float 1:1 Right Share
September 11, 2023 | Investopaper
Barun Hydropower Limited (BARUN) is planning to sell right shares to the shareholders. The company has submitted the application to the Securities Board Of Nepal (SEBON) on Bhadra 21, 2080 BS seeking permission to float the shares. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
For this purpose, the company has already received the permission from Electricity Regulatory Commission.
The company has decided 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.
RBB Merchant Banking Limited is the issue and sales manager for the right offering.
At present, BARUN has a paid up capital of Rs. 53.58 crores. Hence, the company has plans to sell right shares worth Rs. 53.58 crores. After the right issue, the paid-up capital will reach Rs. 107.16 crores.
Barun Hydropower is currently operating a 4.5 MW Hewa Khola Small Hydropower Project in Sankhuwasabha District.
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