Dibyashwori Hydropower to Issue 1:1 Right Share
December 18, 2023 | Investopaper
Dibyashwori Hydropower Limited (DHPL) is planning to sell right shares to the shareholders.
As informed on Nepse, 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.
The company will take the agenda of issuing right shares to its upcoming Annual General Meeting after the permission from Electricity Regulatory Commission.
The hydropower company will begin the procedures for the right offering after the approval from the annual general meeting.
Earlier, the company was planning to issue the right shares in the ratio 1:2. However, the hydropower has now amended the right share ratio.
At present, DHPL has a paid up capital of Rs. 26.40 crores. Hence, the company has plans to sell right shares worth Rs. 26.40 crores. After the right issue, the paid-up capital will reach Rs. 52.80 crores.
The company has stated that it will pay the loans taken from BFIs and invest in other projects from the proceeds received through right offering.
Dibyashwori Hydropower is currently operating a 4 MW Sabha Khola Hydroelectric Project in Sankhuwasabha District.
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