Chhyangdi Hydropower (CHL) Allotts 10: 3 Right Shares, Remaining 59,834 Units to Be Auctioned

Sun, Mar 6, 2022 3:39 PM on Latest, Dividend, Bonus & Rights,

Chhyangdi Hydropower Limited (CHL) has allotted 10: 3 right shares to applicants.

The company closed its 10:3 ratio rights offering on Falgun 02, 2078. The issue had opened on 11th Magh. A total of 8,93,025 shares were issued to eligible shareholders at a par value of Rs. 100 per unit. This offering will raise Rs. 8,93,02,500 for the company. Poush 21 was the book closure date for the rights offering. Thus, shareholders maintained before that day could apply for the right shares.

28,311 eligible applicants have been allotted 8,33,191 shares. Thus, the remaining 59,834 shares will now be auctioned. CHL closed at Rs. 455 today. Considering a conservative average auction rate of Rs. 400, this auction will earn over Rs. 2.33 crores worth of premium value on these right shares.

The paid-up capital of the company after 30% rights shares adjustment will be Rs. 38,69,77,500. Thus, the added premium value translates to added earnings of Rs. 6 per share. The annualized EPS of the company as of Poush, 2078 is Rs. 5.72.