Why Can't I Apply for Rights Issue of Api Power Company?

Fri, Apr 8, 2022 3:38 PM on Dividend, Bonus & Rights, Latest,

API Power Company Limited has opened its rights offering to shareholders from today, i.e. on 25th Chaitra. The issue will close on 15th Baisakh, 2079.

In the rights offering of 1: 0.393632 ratio, a total of 1,08,60,000 units of right shares have been issued to eligible shareholders. Chaitra 14 was the book closure date. Thus, shareholders maintained before that day can apply for the rights offering.

However, some eligible shareholders have noticed that they can't apply for the rights offering via Meroshare since this morning. The issue simply does not appear on the "Apply for Issue" section on Meroshare.

When Sharesansar contacted CDS and Clearing Limited, CDSC's spokesperson Suresh Neupane informed us that the company has a large data of eligible shareholders, a portion of which is yet to be uploaded. 

API's issue manager Muktinath Capital is responsible for uploading the data. Because of the large size, CDSC claims that the entire list of eligible shareholders will possibly be uploaded by this evening.

The company is currently constructing a 40 MW Upper Chamelia project as well as a few MW solar projects in different parts of the nation. Api Power Company has already operationalized the 4 MW Chandrapur Solar Project and is looking forward to becoming a 62.5 MW project by the next year thereby creating more revenue sources for its growth.

Offer Letter