Eastern Hydropower Limited Receives Preliminary Approval from ERC to Issue Right Shares at the Ratio of 1: 0.871

Eastern Hydropower Limited (EHPL) has received preliminary approval from the Electricity Regulatory Commission to issue a 1:0.871 rights offering.

The hydropower company proposed to issue 87.10% right shares on the paid-up capital of Rs. 62 crores. After the adjustment of the proposed right share, i.e., 54,00,092.743 units, the paid-up capital of the company will increase to Rs.1.16 arba.

The company is issuing the right shares to complete the construction of the hydropower project and to pay other outstanding construction-related expenses.

The company will issue the right shares to its shareholders only after the approval of SEBON. As of writing, EHPL has an LTP of Rs. 317.00.