Upper Hewakhola Hydropower Company Receives Preliminary Approval from ERC to Issue Right Shares at the Ratio of 1: 1
Summary
Upper Hewakhola Hydropower Company Limited has received preliminary approval from the Electricity Regulatory Commission to issue right shares in a 1:1 ratio. The funds will be used to complete the hydropower project and cover outstanding construction expenses, pending final approval from SEBON.
Key Points
- Upper Hewakhola Hydropower Company Limited has received preliminary approval from the Electricity Regulatory Commission for a 1:1 rights issue.
- The company plans to issue 5.75 million right shares against its paid-up capital of Rs. 57.50 crores, doubling it to Rs. 115 crores.
- Proceeds will be used to complete the hydropower project and pay remaining construction-related expenses.
- The company will move ahead with the rights issue only after approval from SEBON.
