Arun Valley Hydropower Seeks Approval From Electricity Regulatory Commission to Issue 100% Right Shares

Arun Valley Hydropower Development Company Limited (AHPC) proposes to issue 100% rights shares to its shareholders.

The meeting of the board of directors held on Baisakh 06 has proposed to issue right shares in the ratio of 1:1 i.e 18,679,626 right shares of Rs. 100 par value worth Rs 1.86 arba so that the company can invest 50% of the issued right shares amount i.e. 93,39,813 unit right shares worth Rs 93.39 crore in the Likhu Khola Hydropower Project (30 M.W.) promoted by PK Hydropower Pvt. Ltd. The remaining 93,39,813 unit shares worth Rs 93.39 crore will be used in paying off the loan taken by the company for the Kabeli 'B'-1 Cascade Hydropower Project in Panchthar.

Note that the right shares will be issued only after approval from Electricity Regulatory Commission and endorsement by the company's upcoming AGM and upon approval from SEBON.

The last trading price of AHPC is Rs 307.