Right Share Issuance Opened by Joshi Hydropower from Today

Joshi Hydropower Development Company Limited (JOSHI) has opened the issuance and sale of its right shares starting today (Shrawan 15, 2082). The company is issuing 65% right shares on its existing paid-up capital. This means shareholders will be entitled to 0.65 new shares for every 1 share they currently hold.

The company is issuing 2,414,100 units of right shares at a par value of NPR 100 each, totaling NPR 241.41 million. The book closure date for the right shares was Asar 8, so only shareholders holding shares till Asar 5 are eligible to apply. The application period is open till Bhadra 4.

CARE Ratings Nepal has assigned a "CARE-NP B (Single B)" issuer rating to the company, indicating a high credit risk and limited capacity to meet financial obligations on time.

Laxmi Sunrise Capital Limited is the issue manager. Applications can be submitted through the issue manager, the company's office, and Laxmi Sunrise Bank’s Ilam branch. Additionally, investors can apply via ASBA-approved banks and financial institutions, or through the "Mero Share" online platform.

Currently, the company’s paid-up capital is NPR 371.4 million. After the issuance, it will rise to NPR 612.81 million. The funds collected will be used to repay loans and interest from banks and financial institutions and settle a personal loan taken from promoter Birendra Bahadur Nyaupane.