Rapti Hydro & General Construction Proposes to Issue 100% Right Shares; Decision Subject to Approval from ERC

According to the decision of the Board of Directors meeting of Rapti Hydro & General Construction Limited (RHGCL), the company has decided to issue right shares in the ratio of 1:1 or 100% right shares.

The meeting of the board of directors held on Bhadra 29 has decided to issue the 100% right shares on the paid-up capital of Rs. 61.27 Crores. Hence, after the issue of 6,127,938 units of right shares, the paid-up capital of the company will increase to Rs. 1.22 Arba.

However, it is important to note that the issuance of these right shares is contingent upon receiving approvals from both the regulatory bodies, namely the Electricity Regulatory Commission and the Securities Board of Nepal (SEBON), and subsequent endorsement at the company's upcoming Annual General Meeting (AGM).

RHGCL closed at Rs. 212 last Wednesday.