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Sahas Urja Limited (SAHAS) has received initial consent from the Electricity Regulatory Commission to launch a 1:1 rights issuance.
The hydropower firm suggested releasing 100% rights shares on the paid-up capital of Rs. 4.57 Arba. Following the adjustment of the proposed rights issuance, i.e., 45,738,000 units, the paid-up capital of the firm will rise to Rs. 9.14 Arba.
The firm is offering the rights shares to finalize the construction of the hydropower initiative and to settle other remaining construction-related costs.
The firm will distribute the rights shares to its shareholders only after gaining approval from SEBON. At the time of writing, SAHAS has a last trade price of Rs. 615.60.
