Sayapatri Hydropower Limited Proposes to Issue 100% Right Shares; Decision Subject to Approval from ERC

According to the decision of the Board of Directors meeting of Sayapatri Hydropower Limited (SPHL), the company has proposed to issue right shares in the ratio of 1:1 or 100% right shares.

The 76th meeting of the board of directors held on Mangsir 2, 2081 has decided to issue the 100% right shares on the paid-up capital of Rs. 30 Crore. Hence, after the issue of 30,00,000 units of right shares, the paid-up capital of the company will increase to Rs. 60 Crore.

The funds raised from the rights share issuance will be utilized to settle the company's debts and liabilities, as well as for the maintenance and repair of the Dharam Khola 'A' Hydropower Project.

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).

SPHL closed at Rs. 796.00.