Joshi Hydropower rights share application deadline has been extended. The extension comes because the company did not receive enough applications in the original period. This gives shareholders more time to buy shares in the company.
The company issued 2,414,100 rights shares at a face value of Rs. 100. This makes up 65 percent of its paid-up capital, which is Rs. 37.14 crore. The application period, which originally opened on Shrawan 15, was initially set to close on Bhadra 4. It is now extended until Bhadra 19, giving eligible shareholders extra time to submit their applications.
Only shareholders who were recorded in NEPSE by Ashad 7 can apply for these rights shares. The company closed its books for one day on Asar 8 to finalize the list of eligible investors.
Applications can be submitted at the Joshi Hydropower office, Laxmi Sunrise Capital Ltd in Kathmandu, Laxmi Sunrise Bank in Ilam, through participating banks and financial institutions using C-ASBA, or online via the ‘Mero Share’ platform.
The credit rating agency, CARE Ratings, has given the company a “CARE-NP B(IS)” issuer rating. This shows that the company has a high risk of not meeting its financial obligations on time.
This extension is an opportunity for investors who want to increase their holdings in hydropower. However, the rating indicates that caution is needed. Shareholders should carefully consider the risks before applying.
Overall, Joshi Hydropower’s rights shares are available again, giving shareholders another chance to participate. It is important to act carefully and make informed decisions.
