Rapti Hydro & General Construction Limited Receives Preliminary Approval from ERC to Issue Right Shares at the Ratio of 1:0.2514

Rapti Hydro & General Construction Limited (RHGCL) has received preliminary approval from the Electricity Regulatory Commission to issue a 1:0.2514 rights offering.

The hydropower company proposed to issue 3,081,262 right shares worth Rs.30.81 crores on the paid-up capital of Rs. 1.22 arba. After the adjustment of the proposed right share, i.e., 3,081,262 units, the paid-up capital of the company will increase to Rs. 1.52 arba.

The company is issuing the right shares to complete the construction of the hydropower project and to pay other outstanding construction-related expenses.

The company will issue the right shares to its shareholders only after the approval of SEBON. As of writing, RHGCL has an LTP of Rs. 262.80.