Rapti Hydro and General Construction Limited (RHGCL) is gearing up to offer rights shares to its shareholders. The firm has resolved to issue rights shares at a 1:1 ratio. This indicates that shareholders owning 100 shares may request an extra 100 rights shares.
The rights issuance will commence on Ashad 1, 2082 BS and conclude on Ashad 22, 2082 BS. To facilitate this, the hydropower entity announced the book closure on Jestha 6, 2082 BS. Thus, investors acquiring shares of RHGCL up to Jestha 5, 2082 BS will qualify to apply for rights shares. The Securities Board of Nepal (SEBON) granted authorization to the hydropower firm on Baisakh 25, 2082 BS.
The hydropower company had submitted its application to the board on Ashad 11, 2081 BS, and it can only proceed with the rights issue following SEBON’s approval.
The company has enlisted Muktinath Capital Limited to act as the issue and sales manager. An agreement has been forged between the company and Muktinath Capital in this regard. The Electricity Regulatory Commission (ERC) has also provided prior approval for the rights issuance.
The company received validation for its rights share agenda during its annual general meeting held on Poush 29, 2080 BS. As of the end of Chaitra 2081 BS, Rapti Hydro and General Construction has a paid-up capital of Rs. 61.27 crores.
Therefore, the company intends to issue 6,127,938 shares in the rights offering. At a nominal value of Rs 100, the rights issue totals Rs 61.27 crores. Subsequent to the rights issuance, the paid-up capital will amount to Rs. 122.54 crores. Currently, the company is managing a 5 MW Rukum Gad Hydropower Project located in Rukum East District.
