Rapti Hydro & General Construction Limited Receives Preliminary Approval from ERC to Issue Right Shares at the Ratio of 1:0.2514
Summary
Rapti Hydro & General Construction Limited has received preliminary approval from the Electricity Regulatory Commission to issue right shares at a 1:0.2514 ratio. The company plans to raise Rs. 30.81 crore to complete its hydropower project and cover outstanding construction expenses, pending SEBON approval.
Key Points
- Rapti Hydro & General Construction Limited received preliminary approval from the Electricity Regulatory Commission for a 1:0.2514 rights issue.
- The company plans to issue 3,081,262 right shares worth Rs. 30.81 crore, raising its paid-up capital from Rs. 1.22 arba to Rs. 1.52 arba.
- The funds will be used to finish construction of the hydropower project and pay related outstanding expenses.
- The rights issue will proceed only after approval from SEBON.
