Himalayan Hydropower Receives Preliminary Approval from ERC to Issue Right Shares at the Ratio of 1: 1

Himalayan Hydropower Limited (HHL) has got preliminary approval from the Electricity Regulatory Commission to issue a 1: 1 right offering. The application was sent to ERC for the issuance of the right shares on Baisakh 21, 2080.

The hydropower company proposed to issue 100% right shares on the paid-up capital of Rs. 1.09 Arba. After the adjustment of the proposed right share i.e. 1,09,50,000 units, the paid-up capital of the company will increase to Rs. 2.18 arba.

The company is issuing the right shares in order to complete the construction of the hydropower project and to pay other outstanding construction-related expenses.

The company will issue the right shares to its shareholders only after the approval of SEBON. As of writing, HHL has an LTP of Rs. 341.60 .