KATHMANDU, Feb 20: Upper Hewakhola Hydropower Company has decided to issue 100 percent right share to reduce the debt taken from banks and financial institutions for the construction of the project.
The board of directors of the company has decided to issue right shares in the ratio of 1:1 to reduce the debt taken from banks and financial institutions while constructing the 8.5 MW capacity Upper Hewakhola small hydropower project.
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The company's paid-up capital is currently Rs 500 million. The company has also stated that the amount raised from the right share will be invested in the 15 MW capacity Sisuwa Khola Hydropower Project. The company must first obtain prior approval from the Electricity Regulatory Commission for the issue of right share.
The Board of Directors has decided to submit an application to the Commission for prior approval.
