Ngadi Group Power (NGPL) Opening 1: 1.5 Rights Offering From Today

Ngadi Group Power Limited (NGPL) is opening a 1: 1.5 ratio 1,06,03,986 units right share to its shareholders from today, i.e. 18th Shrawan, 2079. The offering will conclude on 7th Bhadra.

The hydropower company is issuing right shares in the ratio of 1:1.5 or 150% at par value of Rs. 100. The company is issuing 1,06,03,986 units as right shares to raise a capital worth Rs. 1.06 Arba. The existing paid up capital of company is Rs. 70.69 crore and after the issue and allotment of 150% right shares, the company will have a total paid-up capital of Rs 1,76,73,31,000.

The book closure date for right share purpose was on Ashad 20, 2079. Investors holding shares of the company till Ashad 19 will be eligible for right shares. Siddhartha Capital Limited is appointed as the issue manager.

CARE Ratings Nepal Limited (CRNL) has assigned the rating of ‘CARE-NP BB+’ to the long-term bank facilities and ‘CARE-NP A4+’ to the short-term bank facilities of Ngadi Group Power Limited (NGPL).

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