Himalaya Urja Bikas Company Limited (HURJA) has been given authorization by the Electricity Regulatory Commission (ERC) to sell rights shares to the general public.
The 1:1 issuance of the right shares has received clearance from the Energy Regulatory Commission (ERC). The corporation proposed issuing right shares in a 1:2 ratio, or 200% of the company’s paid-up capital, during the board of directors meeting on Poush 05.
The identical agenda was passed in the company’s 22nd AGM, although it required ERC approval. Nevertheless, the board has now approved the issuing of the right shares in a 1:1 or 100% ratio rather than a 1:2 or 200% ratio.
The Securities Board of Nepal (SEBON) final permission is necessary before the firm may proceed with the right issue, notwithstanding the Electricity Regulatory Authority’s (ERA) acceptance of HURJA’s right issue.
Himalaya Urja Bikas Company
As of the first quarter report for Fiscal Year 2079/80, HURJA’s current paid-up capital is Rs. Rs. 99 Crores.
The company’s paid-up capital would therefore rise to Rs. 1.98 Arba following the 1:1 issuance of the right shares. Corresponding to this, the company’s LTP as of April 9, 2023, is Rs. 300.
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