KATHMANDU, July 13: Joshi Hydropower is set to open applications for its rights offering from July 31, aiming to issue 65% of its paid-up capital in rights shares.
The company currently has a paid-up capital of Rs 371.4 million. It will issue 2,414,100 units of rights shares worth Rs 241.41 million at a face value of Rs 100 per share. The application period will remain open until August 20.
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Funds raised from the offering will be used to repay loans taken for the construction of the company’s 3 MW Upper Puwa-1 Hydropower Project.
Laxmi Capital Market has been appointed as the issue manager.
