26,79,075 Right Shares of Barun Hydropower Company Allotted to Applicants on Ashwin 26

Barun Hydropower Company Limited (BARUN) has allotted its 1: 1 ratio right shares on 26th Ashwin, 2079 and have urged their shareholders to dematerialize their shares.

26,79,075 units right shares were issued from Bhadra 06 to Bhadra 31. The hydropower company declared the book closure date for its rights offering on Shrawan 02. Thus, investors maintained before that day were eligible to apply for the shares.

The paid-up capital of the company before the issuance of 100% right shares stood at Rs. 26.79 Crore which has now increased to Rs. 53.58 Crore after the adjustment of the right shares. RBB Merchant Banking Limited was appointed the issue manager.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the rating of ‘CARE-NP BB+ (Is)’ assigned to Barun Hydropower Company Limited (BARUN). Issuers with this rating are considered to have moderate risk of default regarding timely servicing of financial obligations in Nepal.