KATHMANDU, Jan 15 : Balephi Hydropower Limited has announced plans to issue rights shares as part of its strategy to increase paid-up capital. The company has convened its Annual General Meeting (AGM) to endorse the proposal, which is now scheduled to be held on January 22 in Gaushala, Kathmandu.
Funds raised from the rights issue will be used to invest in the 188-megawatt Surke Dudhkoshi Hydropower Project and to reduce outstanding bank loans, the company said.
Currently, the company is operating the 36-megawatt Upper Balefi ‘A’ Hydropower Project in Sindhupalchok district and has already entered commercial production.
In the first quarter of the current FY 2025/26, Balephi Hydropower recorded a net profit of approximately Rs 124.4 million.
For the purpose of the rights issue, the company had already completed its book closure on November 7. Only shareholders listed up to the day prior to the book closure will be eligible to apply for the rights shares.
Republica