Sayapatri Hydropower to Sell 1:1 Right Shares
November 18, 2024 | Investopaper
Sayapatri Hydropower Limited (SPHL) 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 1:1 This means that the shareholders with 100 shares can apply for the additional 100 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, SPHL has a paid up capital of Rs. 30 crores. Hence, the company has plans to sell right shares worth Rs. 30 crores. After the right issue, the paid-up capital will reach Rs. 60 crores.
The company has stated that it will pay the loans taken from BFIs and use the funds in repair of Daram Khola ‘A’ hydropower project from the proceeds received through right offering.
Sayapatri Hydropower is currently operating a 2.5 MW Daram Khola ‘A’ hydropower project. The project is a run-of-river project located at Baglung district. The project started commercial electricity generation from June 26, 2016. The company completed the construction of the project at the cost of Rs 57.77 crore i.e Rs 23.11 crore per MW.
