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.