Barun Hydropower Company Limited has officially opened its 100% rights share issue from today, Ashar 31. The company is offering a total of 53,58,150 units of shares at a face value of Rs. 100 per share, equivalent to Rs. 53.58 crore. The rights are being issued in a 1:1 ratio, meaning existing shareholders can apply for one new share for every one they currently hold.
Application deadline and eligibility
The book closure date was on Jestha 22, so only those who held shares before that date are eligible to apply. Interested shareholders can submit their applications until Shrawan 19.
Credit rating and risk insight
Credit rating agency CARE Ratings Nepal has assigned the company a CARE-NP BB rating, indicating a moderate credit risk associated with the investment.
Where to apply ?
RBB Merchant Banking Limited is the share issue manager for this rights offering. Investors can apply through RBB Merchant branches, various branches of Nepal Rastra Bank, institutions providing C-ASBA services, or conveniently through the Mero Share online platform.
Capital expansion and fund utilization
Currently, the company’s paid-up capital stands at Rs. 53.58 crore. After the rights issue, this will double to Rs. 1.07 arba. From the raised amount, Rs. 1.58 crore will be used for the reconstruction of the Hewakhola project, while Rs. 52 crore will go toward investment and acquisition in Jalshakti Hydro.
