Himalayan 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 Himalayan Hydropower Limited (HHL), the company has proposed to issue right shares in the ratio of 1:1 or 100% right shares.

The board of directors' meeting held on Baishakh 26, 2082, decided to issue 100% right shares with a paid-up capital of Rs. 1.09 Arba. Hence, after the issue of 10,950,000 units of right shares, the company's paid-up capital will increase to Rs. 2.19 Arba.

However, it is important to note that the issuance of these rights shares is contingent upon receiving approvals from both the regulatory bodies, namely the Electricity Regulatory Commission and the Securities Board of Nepal (SEBON).

HHL closed at Rs. 427.78.