Khani Khola Hydropower Extends 100% Rights Share Deadline Until Ashwin 5

Khani Khola Hydropower Company Limited has once again extended the application period for its ongoing 100% rights share issue. The subscription, which opened on Bhadra 3, will now remain open until Ashwin 5, 2082. The company said the deadline has been pushed forward for the final time due to prevailing adverse circumstances.

Earlier, the deadline had already been extended until Bhadra 31. Under the rights offering, shareholders are entitled to apply for one new share for every share they currently hold. A total of 4,657,143 units are being issued at a par value of Rs. 100 each, amounting to Rs. 46.57 crore.

For this purpose, the company had announced a book closure on Ashadh 27. Shareholders holding units before Ashadh 26 are eligible to apply. Post-allotment, the company’s paid-up capital will double from Rs. 46.57 crore to Rs. 93.14 crore.

ICRA Nepal has assigned the company an [ICRANP] Single B Issuer Rating, indicating high risk regarding its ability to meet financial obligations on time. Citizens Capital Limited is the issue manager.

Applications can be submitted through Citizens Capital, designated branches of Kumari Bank and Citizens Bank International, as well as through the ASBA system at licensed banks and financial institutions. Investors can also apply online via the CDSC’s Mero Share platform.

Funds raised from the rights issue will be used primarily to reduce debt, improve the company’s financial position, lower interest expenses, and strengthen equity.