Barahi Hydropower Public Receives Preliminary Approval from ERC to Issue Right Shares at the Ratio of 1: 1

Barahi Hydropower Public Limited (BHPL) has got preliminary approval from the Electricity Regulatory Commission to issue a 1: 1 right offering. The application was sent to ERC for the issuance of the right shares on Baisakh 21, 2080.

The hydropower company proposed to issue 100% right shares on the paid-up capital of Rs. 25 Crores. After the adjustment of the proposed right share i.e. 2,500,000 units, the paid-up capital of the company will increase to Rs. 50 crores.

The company is issuing the right shares in order to construct Simkosh Khola Hydroelectric Project (3.45 MW) and Lower Theule Khola Hydropower Project (0.75 MW) owned by the company.

The company will issue the right shares to its shareholders only after the approval of SEBON. As of writing, BHPL has an LTP of Rs. 450.