Himalayan Hydropower Receives Preliminary Approval from ERC to Issue Right Shares at the Ratio of 1: 1
Summary
Himalayan Hydropower Limited received preliminary approval from the Electricity Regulatory Commission to issue right shares at a 1:1 ratio to raise capital for project construction and expenses.
Key Points
- Himalayan Hydropower Limited received preliminary approval from the Electricity Regulatory Commission (ERC) to issue right shares at a ratio of 1:1.
- The company plans to issue 100% right shares on its paid-up capital of Rs. 1.09 Arba, increasing the paid-up capital to Rs. 2.18 Arba after issuance.
- Rights shares will be issued to existing shareholders only after approval from SEBON.
- Funds raised will be used to complete hydropower project construction and pay outstanding expenses.
