KATHMANDU, Nov 18: Sayapatri Hydropower has applied for approval from the Electricity Regulatory Commission to issue 100 percent rights shares.
At its Board of Directors meeting on Sunday, the company decided to issue rights shares equivalent to 100 percent of its existing value. The company’s current paid-up capital stands at Rs 300 million. The proposal for the rights issue will be submitted to the annual general meeting after obtaining approval from the commission.
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The funds raised from the rights issue will be used to pay off the company’s debt and for the refurbishment of the Daram Khola 'A' Hydroelectric Project.
For the first quarter of the current fiscal year 2024/25, Sayapatri Hydropower reported a net profit of Rs 13.3 million.
