Supermai Hydropower Limited Receives Preliminary Approval from ERC to Issue Right Shares at the Ratio of 1:0.9252
Summary
Supermai Hydropower Limited has received preliminary approval from the Electricity Regulatory Commission to issue rights shares at a 1:0.9252 ratio. The proceeds will be used to repay its loan from Nabil Bank, after regulators rejected the portion proposed for machinery maintenance.
Key Points
- Supermai Hydropower Limited received preliminary approval from the Electricity Regulatory Commission for a 1:0.9252 rights issue.
- The company plans to raise Rs. 59.40 crores through 59,40,000 rights shares to repay a loan from Nabil Bank.
- The regulator did not approve the earlier proposal to use part of the proceeds for machinery maintenance.
- The rights issue will proceed only after approval from SEBON.
