Last Day to Be Eligible for 1:1 Right Share of Himalayan Urja Bikas Company | Book Closure on Ashad 20

July 3, 2024 | Investopaper

Himalayan Urja Bikas Company Limited (HURJA) is planning to sell right shares to the shareholders. The company will issue right shares in the ratio 1:1. This means that shareholders’ with 100 shares can apply for the additional 100 right shares.

For this purpose, the company has fixed the book closure date on Ashad 20, 2081 BS. Therefore, the investors purchasing/holding the shares of HURJA until Ashad 19 will be eligible to apply for the right shares.

HURJA received the approval from the Securities Board Of Nepal (SEBON) on Ashad 7, 2081 BS for the right offering. The company had submitted the application to the board on Ashad 31, 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.

The company has already received approval from Electricity Regulatory Commission (ERC).

Earlier, the board of directors’ meeting of the company held on Magh 13, 2079 BS had decided to issue right shares in the ratio 1:2. However, as per the direction of ERC, the company has revised the ratio of right issue.

The right offering will be on the current capital of Rs. 99 crores. Hence, the company plans to issue 99 lakh units right shares that amounts to Rs. 99 crores (i.e 100 percent of Rs. 99 crores)

The company has appointed Nabil Investment Banking Limited as the issue and sales manager for the right offering.

After the right issue, the paid-up capital of Himalayan Urja Bikas Company will reach Rs. 198 crores. The company has stated that it will repay the long term loans from the amount received through right offering.


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