Singati Hydro Energy Closing 1:1 Right Share from Today
March 5, 2024 | Investopaper
Singati Hydro Energy Limited (SHEL) is currently selling right shares to the shareholders. 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 is open from Falgun 2, 2080 BS and will close on Falgun 22, 2080 BS.
As of Poush end 2080 BS, SHEL has a paid up capital of Rs. 145 crores. Hence, the company has plans to sell right shares worth Rs. 145 crores. After the right issue, the paid-up capital will reach Rs. 290 crores.
For this purpose, the hydropower company had announced the book closure date on Poush 22, 2080 BS. Therefore, investors purchasing the shares of SHEL until Poush 19, 2080 BS are eligible to subscribe for the right shares.
Securities Board of Nepal (SEBON) had given permission to the company on Poush 11, 2080 BS for the right issuance. The company had also passed the agenda of issuing right shares to the shareholders from its Annual General Meeting held on Ashad 13, 2080 BS.
The hydropower company has appointed Kumari Capital Limited as the issue and sales manager.
The company has stated that it will pay the loans taken from BFIs and invest in other projects from the proceeds received through right offering.
Singati Hydro Energy is currently operating a 25 MW Singati Khola Hydropower Project in Dolakha district.
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