People's Power Limited Closing Issue of 1: 0.50 Right Shares from Today

People's Power Limited (PPL) is closing its rights offering today. Initially opened on 22nd Ashadh, the issue was set to close on 11th Shrawan, 2082. However, as per the latest notice, the rights offering will close today, i.e,. from 26th Shrawan, 2082..

The company will be issuing 50% right shares worth Rs. 31.63 Crores through the issue of 31,63,000 (1: 0.50) units of right shares to its existing shareholders. The current paid-up capital is Rs. 63.26 Crores. After the adjustment of the proposed right share, i.e., 31,63,000 units, the company's paid-up capital will increase to Rs. 94.89 Crores.

According to the CDSC, 92,554 applicants applied for 16,62,913 units of right shares, equivalent to Rs. 16.62 crores.

Prabhu Capital Limited is appointed as the issue manager.

The book closure date is 2nd Ashadh, 2082. Thus, investors who maintained before that day can apply for the shares.