Ngadi Group Power (NGPL) Closing Issue of 1:1 Right Share on Magh 29
February 11, 2025 | Investopaper
Ngadi Group Power Limited (NGPL) is currently selling the right shares to the shareholders. The right offering is open from Poush 23, 2081 BS.
The company is floating the right shares in the ratio 1:1. This means that the shareholders with 100 shares can apply for the additional 100 shares.
The right issue will close on Magh 29, 2081 BS. Earlier, the right issue was set to close on Mang 14, 2081 BS. However, due to under-subscription until that period, the deadline for application has been extended.
The company had announced the book closure date on Mangsir 18, 2081 BS. Investors purchasing/holding the shares of NGPL until Mangsir 17, 2081 BS are eligible for applying the right shares.
Securities Board of Nepal (SEBON) granted permission to the company on Mangsir 9, 2081 BS. The company had submitted the application to the board 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.
Siddhartha Capital is 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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