Ghalemdi Hydro Limited (GHL) is currently concluding the offering of its 1:2 ratio right shares to its shareholders, a process that began on the 10th of Mangsir and is scheduled to end today, the 16th of Poush, 2080, by the close of banking hours.
In an effort to raise funds, the hydropower company has initiated the issuance of 200% right shares valued at Rs. 1.1 Arba. This amounts to the distribution of 11,000,000 units of right shares to existing shareholders. The primary objective behind this move is to enable the company to acquire a minimum of 51% of shares in the Chujung Khola hydropower project (63 M.W. PRoR) located in Sankhuwasabha and promoted by Shangrila Urja Pvt. Ltd.
Currently, the company’s paid-up capital stands at Rs. 55 Crores. Following the adjustment for the proposed right share issuance of 1.10 crore units, the paid-up capital is anticipated to rise to Rs. 1.65 Arba.
The responsibility of overseeing this right issue has been assigned to Muktinath Capital Limited, serving as the issue manager. According to the latest update from the issue manager, a total of 27,724 applicants have submitted applications for 63,37,675 units. As of 10 AM this morning, the subscription rate for the issue stands at 57.62%.
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