Joshi Hydropower Receives Approval for 65% Rights Share Issue Worth Over NPR 240 Million

The Securities Board of Nepal (SEBON) has granted approval to Joshi Hydropower Development Company Limited to issue 65% rights shares. The approval was given on Monday, allowing the company to move forward with its capital-raising plans.

With this approval, the company is set to issue 2,414,101 units of rights shares, totaling NPR 241.41 million. These shares will be issued at a 65% ratio based on the company’s existing paid-up capital.

To manage the issuance process, Joshi Hydropower has appointed Laxmi Capital Market Limited as the issue manager. The company is expected to announce further details soon, including the book closure date and application period for the rights issue.

Rights shares allow existing shareholders to purchase additional shares in proportion to their current holdings, typically at a discounted rate, helping companies raise capital while maintaining shareholder control.