Eastern Hydropower Receives Amended Regulatory Approval to Issue 54 Lakh Right Shares
Summary
Eastern Hydropower Limited has received amended prior approval from the Electricity Regulatory Commission to issue 54 lakh right shares to existing shareholders. The move will raise about Rs. 54 crore and support the company’s business and project-related needs.
Key Points
- Eastern Hydropower Limited received prior approval from the Electricity Regulatory Commission to issue 54 lakh right shares.
- The approved issue was amended to a 1:0.871 ratio, totaling about 5.4 million shares worth roughly Rs. 54 crore.
- The company had initially sought approval for 6.2 million shares, equal to 100% of its current paid-up capital.
- The funds are intended to increase paid-up capital and support business and project requirements.
