Api Power Company (API) and Nepal Finance (NFS) Propose to Issue Right Shares; Application Submitted to SEBON

Api Power Company Limited (API) has applied to the regulatory board SEBON to issue 1,08,60,000 right shares.

The 18th AGM of the company held on 25th Bhadra, 2078 had endorsed the proposal of 1: 0.3936 rights offering on the paid-up capital maintained after the adjustment of bonus shares. The paid-up capital after bonus adjustment is Rs. 275.89 crores. Thus, a total of 1,08,60,000 shares will be issued.

Muktinath Capital has been appointed the issue manager. The application was submitted to SEBON on Ashoj 25.

The company is currently constructing a 40 MW Upper Chamelia project as well as a few MW solar projects in different parts of the nation. Api Power Company has already operationalized the 4 MW Chandrapur Solar Project and is looking forward to becoming a 62.5 MW project by the next year thereby creating more revenue sources for its growth.

Similarly, Nepal Finance Limited (NFS) has also submitted its application to issue 1: 0.7 right shares.

The finance company is proposing to float 70% right shares out of its paid-up value of Rs 49.34 crores. This equates to 34,54,474.28 shares. The issue will scale up the company's paid-up value to Rs 83.89 crore.

Prabhu Capital has been appointed the issue manager. The application was submitted to SEBON on Karik 01.