Joshi Hydropower to Float 1:0.65 Right Share
December 29, 2023 | Investopaper
Joshi Hydropower Limited (JOSHI) is planning to sell right shares to the shareholders. The company has decided to float the right shares in the ratio 1:0.65. This means that the shareholders with 100 shares can apply for the additional 65 shares.
For this purpose, the company has already submitted the application to the Securities Board Of Nepal (SEBON) on Mangsir 20, 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.
Laxmi Capital Market Limited is the issue and sales manager for the right offering.
At present, Joshi Hydropower has a paid up capital of Rs. 37.14 crores. Hence, the company has plans to sell 24,14,100 right shares. After the right issue, the paid-up capital will reach Rs. 61.28 crores.
Joshi Hydropower is currently operating a 3 MW Upper Puwa-1 Hydropower Project in Illam District. The project began commercial electricity generation from Magh 1, 2071 BS [January 15, 2015].
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