Kathmandu: Sahas Urja Company Limited has received preliminary approval to issue rights shares. The company has obtained permission from the Electricity Regulatory Commission to issue rights shares equivalent to its paid-up capital.
The company is preparing to issue rights shares in a 1:1 ratio, equivalent to its current paid-up capital of NPR 4.57 billion. For this purpose, it had submitted an application to the Commission on March 22.
According to the company, the funds raised from the rights issue will be invested in the 340.423 MW Budhigandaki Hydropower Project, which is being developed by Times Energy Pvt. Ltd..
Sahas Urja has already completed and brought into operation the 86 MW Solu Dudhkoshi Hydropower Project in Solukhumbu district.
Urjasanchar