Ngadi Group Power Limited (NGPL) is gearing up to offer right shares in a 1:1 ratio. This means that if you hold 100 shares, you can now apply for an additional 100 shares.
The company recently submitted an application to the Securities Board Of Nepal (SEBON) on Bhadra 21, 2080 BS, seeking approval for this right share offering. Once SEBON grants its permission, the company will be able to make these shares available to the public.
Notably, the Electricity Regulatory Commission has already given its green light to this venture, underlining the company’s commitment to expanding its reach.
To oversee the entire process, NGPL has appointed Siddhartha Capital as the issue and sales manager for this right offering. This decision reflects NGPL’s dedication to ensuring a smooth and successful transition for its shareholders.
Currently, NGPL boasts a paid-up capital of Rs. 185.12 crores. With the right issue, this capital will surge to an impressive Rs. 370.24 crores, demonstrating the company’s growth potential.
Ngadi Group Power is no newcomer to the energy sector, as it has been successfully operating the 4.9 MW Siuri Khola Small Hydropower Project in Lamjung District since its commercial launch on Ashwin 30, 2069 BS.
This announcement holds promising opportunities for NGPL shareholders and is poised to play a pivotal role in the company’s expansion. Keep an eye out for further updates on this exciting development.