Dibyashwari Hydropower Increased Size of Right Shares: Propose To Issue 200 % Right Shares

Dibyashwari Hydropower Company Limited (DHPL) has increased the right share issue ratio. The Board of Directors (BOD) meeting of DHPL held on Ashwin 29 has proposed to issue 1:2 or 200% right shares by increasing the issuing right shares.

Earlier, the company had proposed to issue 1:1 or 100% right shares on Ashad 10, 2080. However, the meeting of BOD held on Ashwin 29 canceled the previous proposal and re-proposed to issue 200% on the current paid-up capital in the ratio of 1:2.

The company has decided to invest 51% of the capital obtained from the right issue in Five Khapan Hydropower. The hydropower company claims that the decision to issue the right shares has been taken to clear the loans taken by the company from banks.

The decision is subject to approval from the concerned regulatory bodies and subsequent endorsement at the upcoming Annual General Meeting (AGM) of the company.

As of 4th Quarterly Report, the company experienced a net loss of Rs 3.82 Crore while generating Rs 8.60 Crores in revenue from power sales. It produces 3.3 MW of electricity.

DHPL closed at Rs. 142 yesterday.