200% Right Shares of Ghalemdi Hydro Approved By SEBON; Company to Issue 1.10 Crores Right Shares Soon

The Securities Board of Nepal (SEBON) has approved the rights offering proposal of Ghalemdi Hydro Limited (GHL) on Ashwin 18, 2080.

The company will be issuing 200% right shares worth Rs. 1.10 Arba through the issue of 11,000,000 (1: 2) units of right shares to its existing shareholders. The company proposed to issue 200% right shares so that the company could invest at least 51% shares in the Chujung Khola hydropower project (63 M.W. PRoR) in Sankhuwasabha promoted by Shangrila Urja Pvt. Ltd.

The current paid-up capital of Rs. 55 Crores. After the adjustment of the proposed right share i.e. 1.10 crore units, the paid-up capital of the company will increase to Rs. 1.65 Arba.

Muktinath Capital is appointed as the issue manager. The application was submitted to the board on Ashad 18, 2080

GHL closed at Rs. 230 yesterday.