The proposal of a 1: 0.3936 rights offering on the paid-up capital retained after the adjustment of bonus shares was approved by the company’s 18th Annual General Meeting, which was held on 25th Bhadra, 2078. After bonus adjustments, the paid-up capital amounts to Rs. 275.89 crores. As a result, a total of 1,086,00 shares will be distributed.
Construction on a 40-megawatt Upper Chamelia project is now underway, and the business is also developing a number of smaller-scale solar projects in various parts of the country. Api Power Company has already completed the construction of the 4 MW Chandrapur Solar Project and plans to expand it to a 62.5 MW project by the end of the year, generating additional revenue streams for the company’s expansion and development.
API currently has an LTP of Rs. 443 as of the time of writing.