Peoples Hydropower Company to Float 2:1 Right Share

March 21, 2024 | Investopaper

Peoples Hydropower Company Limited (PHCL) is planning to sell right shares to the shareholders.

As informed on Nepse, the company has decided to float the right shares in the ratio 2:1 This means that the shareholders with 100 shares can apply for the additional 50 shares.

The company will take the agenda of issuing right shares to its upcoming Annual General Meeting after the permission from Electricity Regulatory Commission.

The hydropower company will begin the procedures for the right offering after the approval from the annual general meeting.

At present, PHCL has a paid up capital of Rs. 320 crores. Hence, the company has plans to sell right shares worth Rs. 160 crores. After the right issue, the paid-up capital will reach Rs. 480 crores.

The company has stated that it will pay the loans taken from BFIs and invest in 57-MW Himchuli Dordi Hydropower Project from the proceeds received through right offering.

Peoples Hydropower Company is currently operating a 54 MW Super Dordi Hydropower Project ‘Kha’ in Lamjung District.


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