Sayapatri Hydropower Gets Approval for 1:0.74 Rights Issue
Sayapatri Hydropower secures regulatory approval to issue rights shares at a 1:0.74 ratio, revising its earlier 1:1 plan.
Sayapatri Hydropower Limited (SPHL) has received preliminary approval from the Electricity Regulatory Commission to issue rights shares in the ratio of 1:0.74 of its paid-up capital.
The company’s 8th Annual General Meeting (AGM), held on 2082/03/21, had initially decided to float rights shares in the ratio of 1:1. Based on this resolution, Sayapatri Hydropower applied for approval from the Electricity Regulatory Commission.
However, the commission, through its letter dated 2082/05/20, approved the rights issue at a revised ratio of 1:0.74, instead of the originally proposed 1:1. The company has since informed its shareholders and stakeholders about this regulatory adjustment.
The revised approval indicates that for every 100 shares currently held, investors will be eligible to apply for 74 new shares. The move is expected to raise capital for operational strengthening and future project financing, while slightly reducing potential dilution compared to the original proposal.