Shiv Shree Hydropower Rights Issue: Applications Close Today
Today marks the final day for shareholders to apply for Shiv Shree Hydropower’s 1:1 rights issue, raising Rs. 147.64 crore.
Shiv Shree Hydropower Company Limited (SSHL) shareholders have until today, Ashoj 23, 2082, to apply for the company’s 100% rights issue. Launched on Bhadra 19, the rights offering is at a 1:1 ratio, allowing existing shareholders to acquire one new share for every share currently held.
The total issue consists of 1,47,64,000 shares at a face value of Rs. 100 per share, amounting to Rs. 147.64 crore. The book closure for this offering was set on Saun 16, 2082, making shareholders as of Saun 15 eligible to apply.
Infomerics Credit Rating Nepal has assigned SSHL an [IRN] Single B Minus Issuer Rating, signaling high risk in meeting timely financial obligations. Citizens Capital Limited is managing the share issuance and sale. Investors may submit applications at Citizens Bank International branches in Kumari Pati, Thimi, Biratnagar, Birtamod, Birgunj, Surkhet, Janakpur, Nepalgunj, Narayangadh, Dhangadhi, Pokhara, Butwal, and Hetauda. Online applications are also accepted via the SEBON-approved C-ASBA platform or through CDS and Clearing’s “Mero Share” software.
Currently, SSHL’s paid-up capital stands at Rs. 147.65 crore. Following the rights issue, the company’s capital will increase to Rs. 295.28 crore. Funds raised through this issuance will primarily be used to repay bank loans, strengthening the company’s financial position.