SEBON Approves 75% Right Shares of Himal Dolakha Hydropower, Company to Issue 1.20 Crore Right Shares Soon

The Securities Board of Nepal (SEBON) has approved the rights offering proposal of Himal Dolakha Hydropower Company Limited (HDHPC) on Baisakh 12, 2080.

The hydropower company will be issuing 75% right shares worth Rs. 1.20 Arba through the issue of 1,20,00,000 (1: 0.75) units of right shares to its existing shareholders. The current paid-up capital of the company is Rs. 1.60 Arba. Hence, after the issue of the right share in the ratio of 1:0.75, the paid-up capital of the company will be increased to Rs. 2.8 Arba.

Laxmi Capital Markets is appointed as the issue manager. The application was submitted to the board on Poush 26, 2079.

HDHPC was incorporated in December 2004 as a private limited company and later it was converted to a public company in May 2017 to facilitate public participation. The company is operating an 11.88-MW Namarjun Madi HPP in Kaski District, Gandak Province of Nepal. A run-of-the-river (R-o-R) project, it has been developed at a 40% probability of exceedance (Q40). The project started operations on September 28, 2020, and was developed at a total cost of ~NPR 2,690 million.

HDHPC closed at Rs. 210.20 yesterday.