Ngadi Group Power (NGPL) and Barun Hydropower (BARUN) Receive Preliminary Approval to Issue 150% and 100% Right Shares Respectively
Tue, May 10, 2022 4:43 PM on Dividend, Bonus & Rights, NEPSE News,
Ngadi Group Power Limited (NGPL) has got preliminary approval from the Electricity Regulatory Commission (ERC) to issue 1,06,03,986 right shares.
The 8th AGM of the company held on 3rd Ashwin, 2078 endorsed 20% in bonus shares and 1.05% in cash dividend for tax purposes for the fiscal year 2077/78. Alongside this proposal, the meeting also endorsed a 1: 2 rights offering for shareholders. However, the ERC only allowed a 1:1.5 ratio, resulting in 1,06,03,986 units. Thus, the total paid-up capital of the company is Rs. 70,69,32,400.
Ngadi Group Power Limited (NGPL) began as a private limited business in February 2006 and was changed to a public limited company in June 2014 to allow for public participation. The 4950 KW Siuri Khola Hydropower Project, located in Bhulbhule VDC in Lamjung District in Western Nepal, is NGPL's only operational hydropower project. It began commercial operation in mid-October 2012.
Now the company has to apply in SEBON and only after approval will issue the shares to its shareholders.
As of writing, NGPL has an LTP of Rs. 633.60
Similarly, Barun Hydropower Company Limited (BARUN) has also got preliminary approval from the Electricity Regulatory Commission to issue 26,79,075 right shares.
The 18th AGM of the company held on 29th Poush, 2078 had endorsed the proposal of 1:1 rights offering on the paid-up capital maintained after the adjustment of bonus shares. The paid-up capital after bonus adjustment is Rs. 26.79 crores. Thus, a total of 26,79,075 shares will be issued.
Barun Hydropower Company Ltd. (Earlier Barun Hydropower Development Company Pvt. Ltd) is a limited liability company registered under the Company Act 2063 with an Authorized Share Capital of Rs 60 Crores. It has a paid up 26.79 crore. The company has in operation of 4.5 MW hydroelectricity project known as "Hewakhola Hydropower Project" at Sankhuwashava district.
As of writing, Barun has an LTP of Rs. 447.70
Now the company has to apply in SEBON and only after approval will issue the shares to its shareholders.
