Ghalemdi Hydro (GHL) Receives Approval From Electricity Regulatory Commission to Issue 200% Right Shares

Ghalemdi Hydro Limited (GHL) has received approval from the Electricity Regulatory Commission to issue the right shares in the ratio of 1:2 or 200% for its shareholders.

The board of directors meeting held on Poush 20, 2079 proposed to issue 200% right shares so that the company could invest at least 51% shares in the Chujung Khola hydropower project (63 M.W. PRoR) in Sankhuwasabha promoted by Shangrila Urja Pvt. Ltd.

The current paid-up capital of Rs. 55 Crores. After the adjustment of the proposed right share i.e. 1.10 crore units, the paid-up capital of the company will increase to Rs. 1.65 Arba.

Note that the company will issue the right shares to its shareholders only after endorsement by the company's upcoming AGM approval from SEBON.

As of writing, GHL has an LTP of Rs. 243.