SHEL Signs Rights Share Management Agreement with Muktinath Capital

Singati Hydro Energy Limited (SHEL) has signed an agreement with Muktinath Capital Limited for the issuance and management of a rights share offering. The agreement was signed by SHEL Managing Director Sudip Khadka and Muktinath Capital CEO Kabindra Dhoj Joshi.

SHEL’s 16th Annual General Meeting approved the issuance of 3,04,50,000 ordinary shares at NPR 100 each on a 1:1 basis. The funds raised will be invested in the 61.11 MW Narakhola Hydro Project and 86.59 MW Landruk Modi Hydro Project, as confirmed by the company’s managing director.