Barun Hydropower Company Limited (BARUN) is closing the issue of its ongoing 100% right shares from today i.e. Bhadra 31, 2079. This issue was open from Bhadra 06. Therefore all the eligible investors are requested to apply the right shares before banking hour today.
In the rights offering of 1: 1 ratio, a total of 26,79,075 units of right shares is open to eligible shareholders. The current paid-up capital of the company stands at Rs. 26.79 Crore which will increase to Rs. 53.58 Crore after the adjustment of the right shares.
Shrawan 02 was the book closure date. Thus, shareholders maintained before that day are eligible to apply for the rights offering.
RBB Merchant Banking Limited Capital has been appointed the issue manager.
CARE Ratings Nepal Limited (CRNL) has reaffirmed the rating of ‘CARE-NP BB+ (Is)’ assigned to Barun Hydropower Company Limited (BARUN). Issuers with this rating are considered to have moderate risk of default regarding timely servicing of financial obligations in Nepal.