Ngadi Group Power (NGPL) Unveils Book Closure for 1:1.5 Rights Offering

Ngadi Group Power Limited (NGPL) has unveiled the book closure date for its rights offering. Ashad 20 is the book closure date. Thus, shareholders maintained before that day are entitled to apply for the rights offering when the company issues it.

The 8th AGM of the company held on 3rd Ashwin, 2078 endorsed a 20% bonus shares and 1.05% cash dividend 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.

Now, the company will issue a total of 1,06,03,986 shares to its eligible shareholders at par value of Rs. 100. The proposal was recently approved by the Securities Board of Nepal (SEBON) on Ashad 09, 2078.

The present share capital of NGPL is Rs 70,69,32,400. After the issue and allotment of the right shares, the company will have a total paid-up capital of Rs 176,73,31,000.

Siddhartha Capital Limited has been appointed the issue manager of this right share.