TheElectricityRegulatoryCommissionhasgivenpreliminaryapprovaltoApiPowerCompanyLimited(API)toissue16,533,137unitsofrightshares.
OnFebruary2,theboardofdirectorsproposedissuing40%ofthepaid-upcapitalinrightshares.
Afteradjustingfor7.5%bonusshares,thecompany’spaid-upcapitalwillbeRs.4.13Arba.
Asaresultofthe1:0.40(40%rightsissue),thecompany’spaid-upcapitalwillbeincreasedtoRs.5.78Arba.
Thecompanyproposedissuingtherightsharestopayoffthedebtoftheprojectsthatitisproducing.