Himalayan Hydropower Limited Gets Preliminary Approval for 1:1 Right Share Issue

Himalayan Hydropower Limited (HHL) has received preliminary approval from the Electricity Regulatory Commission (ERC) to issue right shares in the ratio of 1:1. The company had submitted its application to the commission on Baisakh 21, 2080. Under this proposal, HHL plans to issue 100 percent right shares on its existing paid-up capital of Rs. 1.09 Arba, amounting to 1,09,50,000 units. After the issuance, the company’s paid-up capital will increase to Rs. 2.18 Arba. The funds raised through this issue will be used to complete ongoing hydropower projects and clear outstanding construction-related expenses. However, the right shares will be issued only after receiving final approval from the Securities Board of Nepal (SEBON). As of now, the company’s last traded price (LTP) stands at Rs. 341.60.