Tehrathum Power Extends 100% Rights Share Deadline to July 27
Tehrathum Power has extended the deadline to apply for its 100% rights offering until July 27, aiming to raise NPR 400 million to repay bank loans.
Tehrathum Power Company Ltd. (TPC) has extended the application deadline for its ongoing 100% rights share offering until July 27, 2025 (Shrawan 11). The subscription, which opened on June 30 (Ashar 16), offers shareholders one new share for every one held at a par value of NPR 100 per share.
The company is issuing 4 million rights shares, aiming to raise NPR 400 million in capital. Tehrathum had earlier closed its shareholder register on May 18 (Jestha 5), meaning shareholders who held TPC shares until May 17 (Jestha 4) are eligible to apply.
Credit rating agency ICRA Nepal has assigned the offering a [ICRA NP] BB issuer rating, indicating moderate risk regarding the company's ability to meet financial obligations on time.
Nabil Investment Banking Ltd. is serving as the issue and sales manager. Applications can be submitted through:
Nabil Bank branches: Chhatar, Myanglung, and Sankranti Bazar
Kumari Bank’s Menchhyayem branch
All ASBA-member banks and financial institutions licensed by the Securities Board of Nepal (SEBON)
Post-issuance, the company's paid-up capital will double from NPR 400 million to NPR 800 million.
The funds will be primarily used to partially repay existing debt. The company currently owes NPR 926.1 million across three banks — Machhapuchchhre Bank, Nabil Bank, and Global IME Bank. TPC plans to allocate:
NPR 160 million to Machhapuchchhre Bank
NPR 120 million each to Nabil Bank and Global IME Bank
The move is part of TPC’s broader capital restructuring strategy aimed at improving its debt position and balance sheet health.