Right Alert! Issue of 1: 1 Right Shares of Arun Valley Hydropower Opening from Today

Thu, Feb 29, 2024 6:27 AM on Dividend, Bonus & Rights, Latest,

Arun Valley Hydropower Development Company Limited (AHPC) is opening the issue of a 1:1 ratio of right share to its shareholders at a par value of Rs. 100 from today i.e. on 17th Falgun to 7th Chaitra, 2080.

The hydropower company will issue 100% right shares worth Rs. 1.86 Arba through the issue of 18,679,626 (1: 1) units of right shares to its existing shareholders. The current paid-up capital of Rs. 1.86 Arba. After the adjustment of the proposed right share i.e. 1.86 crore units, the company's paid-up capital will increase to Rs. 3.72 Arba.

The meeting of the board of directors held on Baisakh 06 has proposed to issue right shares in the ratio of 1:1 i.e 18,679,626 right shares of Rs. 100 par value worth Rs 1.86 arba so that the company can invest 50% of the issued right shares amount i.e. 93,39,813 unit right shares worth Rs 93.39 crore in the Likhu Khola Hydropower Project (30 M.W.) promoted by PK Hydropower Pvt. Ltd. The remaining 93,39,813 unit shares worth Rs 93.39 crore will be used in paying off the loan taken by the company for the Kabeli 'B'-1 Cascade Hydropower Project in Panchthar.

Muktinath Capital Limited is appointed as the issue manager for this right issue.

Magh 15 was the book closure date. Thus, the shareholders maintained before that day are eligible for the rights offering.

Opening Notice: