Last Day to Apply for Tehrathum Power’s 100% Rights Offering

Tehrathum Power Company Limited (TPC) has announced that today (Shrawan 11) is the final day to apply for its 100% rights offering, issued on an equal ratio of 1:1.

The rights issue, which opened on Asar 16, consists of 4 million shares at a face value of NPR 100 per share, totaling NPR 400 million. The offering is open to shareholders who held the company’s stock until Jestha 4, as the book closure was on Jestha 5.

As per the ICRA Nepal rating, the rights issue has been rated ICRA NP Issuer Rating Double B, indicating moderate risk in fulfilling financial obligations on time.

The issue manager for the rights offering is Nabil Investment Banking Ltd. Investors can apply via Nabil Bank’s branches in Chhathar, Myanglung, Fedap-Sankranti Bazar, and Kumari Bank’s Menchhyayem branch. Applications are also accepted via ASBA-participating BFIs and through Mero Share online platform.

The company’s current paid-up capital stands at NPR 400 million, which will rise to NPR 800 million after this offering.

The funds raised will be used to partially repay loans held at Machhapuchhre Bank, Nabil Bank, and Global IME Bank, where the company has a total outstanding loan of over NPR 926.1 million. Of the collected amount, NPR 160 million will be repaid to Machhapuchhre Bank, and NPR 120 million each to Nabil and Global IME Bank.