The Securities Board of Nepal (SEBON) has granted approval to the rights offering proposal submitted by Singati Hydro Energy Limited (SHEL) on Poush 11, 2080. Under this approved plan, the company is set to issue 100% right shares valued at Rs. 1.45 Arba. This issuance will involve the distribution of 14,500,000 (1:1) units of right shares exclusively to its existing shareholders.
Presently, Singati Hydro Energy Limited has a paid-up capital of Rs. 1.45 Arba. Following the implementation of the proposed right share issuance, involving 1.45 crore units, the company’s paid-up capital is slated to double, reaching Rs. 2.90 Arba.
The hydropower firm asserts that the decision to introduce the right shares is aimed at generating funds for investments in other ventures and for settling outstanding debts. Kumari Capital has been appointed as the issue manager for this rights offering. The application for approval was submitted to the board on Ashad 27, 2080.
As of the latest update, Singati Hydro Energy Limited (SHEL) concluded trading at Rs. 281.90.