Himalayan Power Partner (HPPL) to Float 2:1 Right Share
November 14, 2024 | Investopaper
Himalayan Power Partner Limited (HPPL) 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 2:1 This means that the shareholders with 100 shares can apply for the additional 50 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.
At present, HPPL has a paid up capital of Rs. 106.54 crores. Hence, the company has plans to sell right shares worth Rs. 53.27 crores. After the right issue, the paid-up capital will reach Rs. 159.81 crores.
The company has stated that it will pay the loans taken from BFIs from the proceeds received through right offering.
Himalayan Power Partner is currently operating a 27-MW Dordi Khola Hydropower Project in Lamjung district.
