Offer Letter Published for "Singati Hydro"; Right Shares Issue Opens from Falgun 2
Thu, Jan 25, 2024 8:01 AM on Dividend, Bonus & Rights, Latest,
Singati Hydro Energy Limited (SHEL) has published an offer letter for the issuance of its 100% rights shares.
According to the offer letter made public by the company, it is set to open applications for its right shares in the ratio 1:1 or 100% from 2nd Falgun to 22nd Falgun, 2080.
The hydropower company will be issuing 100% right shares worth Rs. 1.45 Arba through the issue of 14,500,000 (1: 1) units of right shares to its existing shareholders. The current paid-up capital of Rs. 1.45 Arba. After the adjustment of the proposed right share i.e. 1.45 crore units, the paid-up capital of the company will increase to Rs. 2.90 Arba.
The hydropower company claims that the decision to issue the right shares has been taken to generate fund for investment into other companies as well as for debt clearance.
Kumari Capital Limited is appointed as the issue manager for this right issue.
Poush 22 was the book closure date. Thus, the shareholders maintained until the same are deemed eligible for the rights offering.
