Tag: Hydropower

  • AHPC Successfully Allots 1:1 Right Shares: Unclaimed Shares to be Auctioned Soon

    AHPC Successfully Allots 1:1 Right Shares: Unclaimed Shares to be Auctioned Soon


    Arun Valley Hydropower Development Company Limited (AHPC) recently completed the allotment of its right shares at a 1:1 ratio on the 27th of Chaitra, 2080. Following the allotment process, shares were distributed to eligible applicants, while those who were not allotted shares will receive their refunds starting from the 30th of Chaitra, 2080.

    During the issuance period, which ran from the 17th of Falgun to the 7th of Chaitra, 2080, a total of 1,86,79,626 units of right shares were made available. The company declared the book closure date for its rights offering on Magh 15, ensuring that investors who held shares before this date were eligible to apply for the additional shares.

    Out of the total issuance, 1,66,87,492 shares were allotted to 33,714 valid applicants. However, there were 19,92,134 (10.66%) shares that remained unclaimed by eligible investors. These unclaimed shares will soon be auctioned off to the general public and institutions.

    Overall, the completion of the right shares allotment signifies an important step for AHPC in its efforts to raise capital and further its hydropower development initiatives.

  • Electricity Disruption Crisis: Dillichaur Hydropower Project Failure Leaves Hundreds in Darkness

    Electricity Disruption Crisis: Dillichaur Hydropower Project Failure Leaves Hundreds in Darkness


    Nearly 800 households in the district have faced a harrowing experience of being plunged into darkness for two consecutive days due to an electricity disruption. This disruption stemmed from the failure of the Dillichaur hydropower project to generate power, caused by a significant setback in its water supply system.

    The halt in power generation was attributed to damage sustained by the canal feeding water to the hydropower plant, resulting from a landslide that impacted a 25-meter stretch of the canal. Since Sunday, residents have been grappling with the absence of electricity, highlighting the critical dependence of these communities on the hydropower project for their daily needs.

    Krishna Bahadur Budha, Chairman of Vidyut Cooperatives, expressed regret over the situation, emphasizing the failure to address earlier notices regarding cracks in the canal walls. Technicians estimate the reconstruction of the damaged canal to require Rs. 600 thousand, underscoring the financial burden posed by the unforeseen disaster.

    The affected households, primarily located in ward numbers 4, 5, and 6 of Patarasi rural municipality, have not only endured the inconvenience of living without electricity but also faced disruptions in the operations of government offices, banks, and financial institutions.

    In response to the crisis, the rural municipality has allocated Rs. 300 thousand for the reconstruction of the hydropower canal. Purna Singh Bohara, Chairperson of the rural municipality, has assured residents that concerted efforts are underway to restore power supply at the earliest.

  • Mandakini Hydropower Limited Lists Bonus Shares on NEPSE Following AGM Dividend Decision

    Mandakini Hydropower Limited Lists Bonus Shares on NEPSE Following AGM Dividend Decision


    Mandakini Hydropower Limited (MHL) has recently listed 2,79,317.53 unit bonus shares on the Nepal Stock Exchange (NEPSE). This follows the company’s 10th Annual General Meeting (AGM), which took place on Poush 29, 2080, where a 5% dividend for the fiscal year 2079/80 was endorsed. During a board of directors meeting held on the 29th of Mangsir, it was decided to distribute the dividend, consisting of 4.75% bonus shares and 0.25% cash dividend, inclusive of tax.

    These bonus shares have now been officially listed on NEPSE. As of the latest update, Mandakini Hydropower Limited (MHL) has a Last Traded Price (LTP) of Rs. 417.90.

  • Upper Tamakoshi Hydropower Lists 10,590,000 Units of Right Shares on NEPSE

    Upper Tamakoshi Hydropower Lists 10,590,000 Units of Right Shares on NEPSE


    A total of 10,590,000 units of right shares from Upper Tamakoshi Hydropower Limited (UPPER) have been officially listed on the Nepal Stock Exchange (NEPSE). The company had previously issued a 1:1 ratio of right shares, amounting to 10,590,000 units, made available to its shareholders during the period from the 18th of Bhadra to the 22nd of Ashwin, 2080. However, only 8,888,047 units were subscribed by eligible shareholders, and the remaining 1,701,953 units of unsubscribed right shares were subsequently auctioned from the 13th to the 29th of Poush, 2080.

    The auctioned right shares, which did not find subscribers during the initial offering, were sold at a cut-off price of Rs. 147. As a result, the total paid-up capital of Upper Tamakoshi Hydropower Limited now stands at Rs. 21.18 billion. The listing of these 10,590,000 units of right shares on NEPSE has been completed, and Sunrise Capital Limited acted as the auction manager for the company.

    As of the latest information, the Last Traded Price (LTP) for UPPER on the stock exchange is Rs. 205.00.

  • Barahi Hydropower Receives Final Approval for 1:1 Right Share Issuance to Fund Key Projects

    Barahi Hydropower Receives Final Approval for 1:1 Right Share Issuance to Fund Key Projects


    The final approval from the Electricity Regulatory Commission has been granted to Barahi Hydropower Public Limited (BHPL) for the issuance of right shares in a 1:1 ratio for its shareholders. The hydropower company had proposed to issue 100% right shares based on its paid-up capital of Rs. 25 Crores. Following the adjustment of the proposed right shares, totaling 2,500,000 units, the company’s paid-up capital is set to double to Rs. 50 Crores.

    The primary purpose behind the issuance of these right shares is to fund the construction of two hydropower projects owned by BHPL – the Simkosh Khola Hydroelectric Project (3.45 MW) and Lower Theule Khola Hydropower Project (0.75 MW).

    It’s important to note that the company will proceed with the issuance of right shares to its shareholders only upon receiving approval from the Securities Board of Nepal (SEBON). As of the latest update, BHPL closed at Rs. 479.00.

  • Khani Khola Hydropower Company’s Rs. 46.57 Crore Right Share Issue Under SEBON Review

    Khani Khola Hydropower Company’s Rs. 46.57 Crore Right Share Issue Under SEBON Review


    The Securities Exchange Board of Nepal (SEBON) has included the right shares of Khani Khola Hydropower Company Limited (KKHC) in its preliminary review process. The company submitted the application to the board on Falgun 17, 2080.

    Khani Khola Hydropower Company Limited plans to issue 100% right shares, amounting to Rs. 46.57 Crores. This will involve the issuance of 4,657,143 (1:1) units of right shares to its existing shareholders. Currently, the company’s paid-up capital stands at Rs. 46.57 Crore. With the proposed right share adjustment, the paid-up capital is set to increase to Rs. 93.14 Crore.

    Citizens Capital Limited has been appointed as the issue manager for this process.

  • Lower Erkhuwa Hydropower’s IPO Proposal Under SEBON Review for Rs. 28.05 Crores

    Lower Erkhuwa Hydropower’s IPO Proposal Under SEBON Review for Rs. 28.05 Crores


    The Initial Public Offering (IPO) proposal of Lower Erkhuwa Hydropower Company Ltd. is currently under review by SEBON (Securities Board of Nepal). The company has submitted a proposal to issue a total of 2,805,750 shares, aiming to raise Rs. 28.05 crores. The application for the IPO was submitted on Falgun 11, 2080.

    Muktinath Capital Limited has been appointed as the issue manager for the public offering, overseeing the regulatory and procedural aspects of the IPO process. In terms of credit assessment, ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating double B minus) to Lower Erkhuwa Hydropower Company Limited. This rating indicates a moderate risk of default concerning the timely servicing of financial obligations.

    Lower Erkhuwa Hydropower Company Limited, established on February 10, 2008, is actively engaged in the development of the Lower Erkhuwa Khola Hydropower Project. This venture, with a capacity of 13.04 MW, is located in Bhojpur district, Province No. 1 of Nepal. The project follows a run-of-the-river (R-o-R) type design and is currently in development at a 40% probability of exceedance (Q40). The Power Purchase Agreement (PPA) for this initiative features a unique approach, incorporating a six-month dry energy period and a six-month wet energy period, with a dry energy mix comprising approximately 30%.

    The inclusion of Lower Erkhuwa Hydropower Company Ltd.’s IPO in SEBON’s pipeline signifies the company’s move toward accessing the capital market for funding its ongoing projects and future endeavors.

  • Last Day to Secure Dividend from United Idi-Mardi & R.B. Hydropower

    Last Day to Secure Dividend from United Idi-Mardi & R.B. Hydropower


    Today marks the final opportunity to claim the 5.789% dividend offered by United Idi-Mardi and R.B. Hydropower Limited (UMRH). Additionally, the company has scheduled its 14th AGM for the 17th Falgun, 2080, to be held at the Avya Club in Gharipatan, Pokhara, beginning at 11:00 am. Among the agenda items, the AGM will approve the proposed 5.789% dividend for the fiscal year 2079/80, consisting of a 5.50% bonus share allocation valued at Rs. 2.31 Crores and a 0.289% cash dividend amounting to Rs. 12.15 lakhs for tax purposes.

     

  • Bhagawati Hydropower’s Q2 Earnings Surge 23.26%; Long-Term Debt Cleared, Revenue Rises 13.31%

    Bhagawati Hydropower’s Q2 Earnings Surge 23.26%; Long-Term Debt Cleared, Revenue Rises 13.31%


    Bhagawati Hydropower Limited (BGWT) has announced a net profit of Rs. 3.77 Crores in the second quarter (Q2) of the current fiscal year 2080/81, marking a 23.26% increase from the same quarter last year when it was Rs. 3.06 crores.

    Notably, the company has successfully paid off its long-term loans, resulting in no long-term debt burden. This move is expected to significantly reduce finance costs, as the company’s financial obligations will now primarily focus on short-term liabilities. As a result, a substantial portion of the sales revenue is expected to be channeled towards strengthening reserves.

     

  • Sikles Hydropower’s Q2 Earnings Show Slight Growth; Debt Decreases

    Sikles Hydropower’s Q2 Earnings Show Slight Growth; Debt Decreases


     

    In the second quarter of the fiscal year 2080/81, Sikles Hydropower Limited (SIKLES) recorded a net profit of Rs. 6.29 crores, marking a slight uptick of 0.27% compared to the same period last year when it stood at Rs. 6.27 crores.

    During this timeframe, the company’s long-term loan decreased by 6.76%, reaching Rs. 1.26 billion.

    Revenue from power sales totaled Rs. 19.58 crores for Q2, while income from other sources amounted to Rs. 4.05 lakhs.

  • Dordi Khola Hydropower Taps Sanima Capital as Issue Manager for 1:1 Rights Offering

    Dordi Khola Hydropower Taps Sanima Capital as Issue Manager for 1:1 Rights Offering


    Dordi Khola Hydropower Company Limited (DORDI) has selected Sanima Capital Limited as the exclusive issue manager for its upcoming 1:1 ratio rights issue, according to an announcement from the Nepal Stock Exchange (NEPSE).

    In the upcoming rights issue, the hydropower company plans to issue 10,542,604 (1:1) units of right shares, equal to 100% of its existing shares, to its current shareholders. Currently, the company’s paid-up capital stands at Rs. 1.05 Arba, and the proposed right share issuance aims to significantly boost the financial structure, bringing the paid-up capital to Rs. 2.11 Arba after the adjustment of 1.05 crores units.