Terhathum Power Extends Rights Share Application Deadline Till Shrawan 11

Terhathum Power Company Limited (TPC) has extended the application period for its 100% rights share issuance, which opened on Asar 16. Shareholders can now apply until Shrawan 11. The company is issuing rights shares in a 1:1 ratio, meaning one new share for every existing share. A total of 4 million shares are being issued at a face value of Rs. 100 each, amounting to Rs. 400 million.

The book closure date was on Jestha 5, meaning shareholders holding shares until Jestha 4 are eligible to apply. ICRA Nepal has rated the issue as ICRA NP Issuer Rating Double B, indicating moderate credit risk in fulfilling financial obligations.

Nabil Investment Banking Ltd. is the issue and sales manager. Applications can be submitted at Nabil Bank’s Chhathar, Myanglung, and Sankranti Bazar branches, as well as Kumari Bank’s Menchhayam branch. Eligible investors can also apply through ASBA-approved banks and financial institutions.

The current paid-up capital of the company stands at Rs. 400 million, which will double to Rs. 800 million after the allotment. The raised capital will be used to partially pay off loans from Machhapuchhre Bank, Nabil Bank, and Global IME Bank. Out of the total Rs. 926.1 million debt, Rs. 160 million will be repaid to Machhapuchhre Bank, and Rs. 120 million each to Nabil Bank and Global IME Bank.