Sagarmatha Jalbidhyut Company Limited Proposes to Issue 100% Right Shares; Approval Received from ERC

According to the decision made during the Board of Directors meeting of Sagarmatha Jalbidhyut Company Limited (SMJC), the company has proposed to issue right shares in the ratio of 1:1, equivalent to 100% of its existing paid-up capital.

The board meeting, held on Jestha 13, 2082, approved the issuance of 100% right shares based on the current paid-up capital of Rs. 1.17 Arba. Following the allotment of 11,732,000 units of right shares, the company’s paid-up capital is expected to double to Rs. 2.34 Arba.

These right shares have already received approval from the Electricity Regulatory Commission. However, the final issuance is subject to approval from the Securities Board of Nepal (SEBON).

As of the latest market close, SMJC's share price stood at Rs. 500.89.