April 30, 2023 | Investopaper
Shiva Shree Hydropower Limited (SSHL) 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.
At present, SSHL has a paid up capital of Rs. 147.64 crores. Hence, the company has plans to sell right shares worth Rs. 147.64 crores. After the right issue, the paid-up capital will reach Rs. 295.28 crores.
The company will pay the loans taken from BFIs from the proceeds received through right offering.
The hydropower company will begin the procedures for the right offering after the approval from Electricity Regulatory Commission and the annual general meeting.
Shiva Shree Hydropower is currently operating a 22.2 MW Upper Chaku ‘A’ Hydroelectric Project in Sindhupalchowk district.