Deadline for Rights Issue of Arun Valley Hydropower (AHPC) Extended

Arun Valley Hydropower Development Company Limited (AHPC) has extended the deadline of its rights offering.

The company has opened its rights offering from 6th Baisakh, 2078. The issue was supposed to close on Baisakh 26th. However, the meeting of the board of directors held this Thursday has decided to extend the auction deadline on account of unfavorable conditions created by the pandemic.

The rights offering is in a 1:0.5 structure, i.e. investors can apply for an extra share for every two shares that they own before the book closure date. A total of 52,41,197 shares have been issued at Rs. 100 per unit to eligible investors. Muktinath Capital is appointed the issue manager for this right shares issue.

Chaitra 09 was the book closure date for the rights offering. Thus, investors maintained before that day are entitled to apply for the rights offering.

This is the first phase issue of the 1:1 right shares issue that Arun Valley Hydropower Development Company Limited has already passed via its 21st AGM. This capital will be invested in the Kabeli-B1 Cascade Hydropower Project. The entire rights offering will issue a total of 99,83,232 shares.