Api Power Company is issuing 1:0.476 right shares to its shareholders from today; issue closes of Mangsir 4

Api Power Company Limited is issuing the right shares in the ratio 1:0.476 to its shareholders from today.

The right shares totaling 56,70,000 units will open from today i.e. 14th Kartik and conclude on 4th Mangsir, 2077.

As of now, the company's paid-up capital is Rs. 119.07 crores. After this issue, the paid-up capital will be Rs. 175 crores. 

The company is issuing the right shares to generate capital for the construction of the third project, the Upper Chameliya Hydropower Project with 40 MW capacity. The project will generate 26.41 crores units of electricity annually. Of the electricity generated, 30 percent will be generated in six months of winter and the remaining 70 percent in six months of rains. In the first year, Rs. 162 crores revenue will be earned.

A total of Rs. 740 crore is estimated to be the cost of the project. The company will cover 30% of the total cost by issuing rights shares to its shareholders in two stages. The rest 70% will be borrowed.

Why is Api Power Company issuing right shares from Kartik 14? Know the full story

Api Power Company Limited has announced a book closure date for its upcoming 1:0.47 ratio right share on 1st Chaitra, 2076.