Buddha Bhumi Nepal Hydropower Receives Final Approval from ERC to Issue 100% Right Shares

The Electricity Regulatory Commission has granted final approval to Buddha Bhumi Nepal Hydropower Company Limited (BNHC) to issue the right shares at a ratio of 1:1 for its shareholders.

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. However, the Electricity Regulatory Commission has authorized the issuance of 100% right shares from the paid-up capital. After the adjustment for the proposed right shares of 40,00,000 units, the company's paid-up capital will rise to Rs. 80 crores.

Nevertheless, the issuance of the right shares will proceed only upon approval from SEBON. Yesterday, BNHC closed at Rs. 601.70.