Tehrathum Power to Issue 100% Rights Shares from Asar 16

Tehrathum Power Company Limited (TPC) is set to issue a 100% rights share starting from Asar 16 (June 30, 2025). The company plans to offer one new share for every existing share, meaning shareholders will be entitled to apply for one rights share per share they currently hold. This issuance will amount to 4 million shares, each with a face value of NPR 100, totaling NPR 400 million.

For the rights offering, the company had closed its books on Jestha 5, allowing only those shareholders holding shares by Jestha 4 to be eligible to apply. The application period for the rights shares will remain open until Shrawan 4 (July 19, 2025).

ICRA Nepal has rated the company with an issuer rating of [ICRA] BB under ICRA NP Issue Rating, indicating a moderate credit risk regarding timely financial obligations. Nabil Investment Banking Limited is managing the rights share issuance. Shareholders can apply through the sales manager, Nabil Bank’s branches in Chhathar, Myanglung, Fedap-Sankranti Bazar, and Kumari Bank’s Menchhayam branch, along with other ASBA-approved financial institutions.

Currently, TPC’s paid-up capital stands at NPR 400 million, which will double to NPR 800 million after the rights issue. The funds raised will be used to partially pay off existing loans held in Machhapuchchhre Bank, Nabil Bank, and Global IME Bank, totaling NPR 926.13 million. Specifically, NPR 160 million will go to Machhapuchchhre Bank, while Nabil Bank and Global IME Bank will each receive NPR 120 million.