Ngadi Group Power Limited (NGPL) Appoints Issue Manager for 1: 2 Rights Offering

Ngadi Group Power Limited (NGPL) has appointed Siddhartha Capital as the issue manager for its upcoming rights issue.

The 8th AGM of the company held on 3rd Ashwin, 2078 endorsed 20% in bonus shares and 1.05% in cash dividend for tax purposes for the fiscal year 2077/78. Alongside this proposal, the meeting also endorsed a 1: 2 rights offering for shareholders. This will be issued from the paid-up capital maintained after the adjustment of the aforementioned bonus shares.

The company has posted net profit growth of 110.26% in the fourth quarter (Q4) of FY 2077/78. The profit increased to Rs. 12.27 crores from Rs. 5.83 crores in the corresponding quarter of the previous year. Its earnings per share stand at Rs 20.84, net worth per share at Rs 123.14, and P/E ratio stood at 27.35 times.