Ngadi Group Power Gets Approval To Issue Right Shares In The Ratio Of 1:1.5

Fri, Jun 24, 2022 11:04 AM on Dividend, Bonus & Rights, Latest,

Ngadi Group Power Ltd (NGPL) has written an official letter to the Nepal Stock Exchange Limited (NEPSE) regarding obtaining approval for the issue of the right shares.

NGPL wrote to NEPSE after the company received approval from the Electricity Regulatory Commission for the right share to the issue in the ratio of 1:1.5. Following the approval from Electricity Commission, the company placed the application to the Securities Exchange Board of Nepal (SEBON) for the right issue, and on 9th Asad, 2079 SEBON approved the rights issue of 1:1.5.

In the rights offering of a 1: 1.5 ratio, a total of 1,06,03,986 units of right shares will be issued to the eligible shareholders at Rs. 100 per share.

The present share capital of NGPL is Rs 70,69,32,400. After the issue and allotment of the right shares, the company will have a total paid-up capital of Rs 176,73,31,000.

Siddhartha Capital Limited has been appointed the issue manager of this right share.