Eastern Hydropower Limited Receives Preliminary Approval from ERC to Issue Right Shares at the Ratio of 1: 0.871
Summary
Eastern Hydropower Limited has received preliminary approval from the Electricity Regulatory Commission to issue rights shares at a 1:0.871 ratio. The company plans to use the funds to complete its hydropower project and cover outstanding construction expenses, pending final approval from SEBON.
Key Points
- Eastern Hydropower Limited has received preliminary approval from the Electricity Regulatory Commission for a 1:0.871 rights offering.
- The company plans to issue 87.10% right shares on its Rs. 62 crore paid-up capital, which would raise the paid-up capital to Rs. 1.16 billion after adjustment.
- The proceeds will be used to complete construction of the hydropower project and pay outstanding construction-related expenses.
- The rights issue will be issued to shareholders only after approval from SEBON.
