August 3, 2022 | Investopaper
Ngadi Group Power Limited (NGPL) is going to issue the right shares to the shareholders in the ratio 1:1.5. This means that shareholders with 100 shares can apply for the additional 150 shares.
The right issue will open from Shrawan 18, 2079 BS. Shareholders purchasing the shares of NGPL until Ashad 19, 2079 BS can apply for the right shares.
The hydropower will issue 10,603,986 shares. At a par value of Rs. 100, the right issue amounts to Rs. 1.06 Arba.
At present, NGPL has a paid-up capital of Rs. 70.69 crores. After the right issue, the paid-up capital will reach Rs. 176.73 crores.
The annual general meeting (AGM) of the company held on Ashwin 3, 2078 BS has already approved the issue of right shares. Likewise, the company has also received permission from the Electricity Regulatory Commission.
Securities Board of Nepal (SEBON) granted the permission to the company on Ashad 9, 2079 BS for the issuance of right shares. The company had submitted the application to the board on Jestha 09, 2079 BS. Only after the approval from SEBON, the company can float the shares.
The company has appointed Siddhartha Capital Limited as the issue and sales manager.