Ngadi Group Power To Float 1:1 Right Share
September 11, 2023 | Investopaper
Ngadi Group Power Limited (NGPL) is planning to sell right shares to the shareholders.
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 has submitted the application to the Securities Board Of Nepal (SEBON) on Bhadra 21, 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.
For this purpose, Electricity Regulatory Commission has already granted the approval to the company.
The company has appointed Siddhartha Capital as the issue and sales manager for the right offering.
At present, NGPL has a paid up capital of Rs. 185.12 crores. Hence, the company has plans to sell right shares worth Rs. 185.12 crores. After the right issue, the paid-up capital will reach Rs. 370.24 crores.
Ngadi Group Power is currently operating a 4.9 MW Siuri Khola Small Hydropower Project in Lamjung District. The project began commercial operation from Ashwin 30, 2069 BS.
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