Barun Hydropower Opens 1:1 Rights Share Issue, Applications Open Until Shrawan 19

Barun Hydropower Company Limited (BARUN) has opened its 1:1 rights share issue from today, Shrawan 15 (July 30). The company is issuing 5,358,150 units of rights shares at a par value of Rs. 100 per share, in the ratio of one new share for every one existing share. For this purpose, the book closure was done on Jestha 22. Therefore, only shareholders who held shares till Jestha 21 are eligible to apply by the deadline of Shrawan 19.

The current paid-up capital of the company is Rs. 535.815 million, which will double to Rs. 1.07163 billion after the rights issue and allotment. This capital expansion is expected to strengthen the company’s financial position.

RBB Merchant Banking Limited is the issue manager. Investors can apply through RBB Merchant and various branches of Rastriya Banijya Bank, participating ASBA-approved banks and financial institutions, or through the ‘Mero Share’ online platform. Of the total proceeds, Rs. 15.8 million will be used for the reconstruction of the damaged Hewakhola Hydropower Project, and Rs. 520 million will be invested in the acquisition of Jalashakti Hydro Company Pvt. Ltd.