Dibyashwari Hydropower Revised the Size of Right Shares: Propose To Issue 100% Right Shares

Dibyashwari Hydropower Company Limited (DHPL) has reversed the right share issue ratio. The Board of Directors (BOD) meeting of DHPL held on Mangsir 29 has proposed to issue 1:1 or 100% right shares.

Earlier, the company had proposed to issue 1:1 or 100% right shares on Ashad 10, 2080. However, the meeting of BOD held on Ashwin 29 canceled the previous proposal and re-proposed to issue 200% on the current paid-up capital in the ratio of 1:2. However, the decision has again been altered and now has been revised to 1:1 ratio or 100% right shares.

The company has decided to invest 51% of the capital obtained from the right issue in Five Khapan Hydropower. The hydropower company claims that the decision to issue the right shares has been taken to clear the loans taken by the company from banks.

The decision is subject to approval from the concerned regulatory bodies and subsequent endorsement at the upcoming Annual General Meeting (AGM) of the company.

As of writing, DHPL closed at Rs. 182.