Mandakini Hydropower to Issue Rights Shares
Author
NEPSE TRADING
Mandakini Hydropower Limited is set to issue rights shares worth approximately NPR 430 million. The company has already received preliminary approval from the Electricity Regulatory Commission for the issuance.
According to the company, NPR 233.4 million from the rights issue proceeds will be used to repay loans, while the remaining amount will be invested in the construction of the Upper Sardi Khola Hydropower Project.
The company plans to invest a total of NPR 350 million in the project. However, while the estimated cost of the project is NPR 659.2 million, only NPR 463.3 million has so far been approved through bank financing.
The company will now proceed with the process of seeking formal approval from the Securities Board of Nepal (SEBON) for the rights share issuance.
