Buddha Bhumi Nepal Hydropower Proposes to Issue 150% Right Shares; Decision Subject to Approval from ERC

According to the decision of the Board of Directors meeting of Buddha Bhumi Nepal Hydropower Company Limited (BNHC), the company has proposed to issue right shares in the ratio of 1:1.50 or 150% right shares.

The meeting of the board of directors held on Poush 20, 2080 has decided to issue the 150% right shares on the paid-up capital of Rs. 40 Crore. Hence, after the issue of 60,00,000 units of right shares, the paid-up capital of the company will increase to Rs. 1 Arba.

However, it is important to note that the issuance of these right shares is contingent upon receiving approvals from both the regulatory bodies, namely the Electricity Regulatory Commission and the Securities Board of Nepal (SEBON).

BNHC closed at Rs. 448.20.