Himalayan Power Partner Limited Proposes to Issue 50% Right Shares; Decision Subject to Approval from ERC

According to the decision of the Board of Directors meeting of Himalayan Power Partner Limited (HPPL), the company has proposed to issue right shares in the ratio of 2:1 or 50% right shares.

The meeting of the board of directors held on Kartik 29, 2081 has decided to issue the 50% right shares on the paid-up capital of Rs. 1.06 Arba. Hence, after the issue of 53,27,085 units of right shares, the paid-up capital of the company will increase to Rs. 1.59 Arba. This right share issuance is intended to repay the company's outstanding loans to the bank.

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).

HPPL closed at Rs. 364.90.