Ngadi Group Power to issue 150 percent Right Shares

Jun Sat 2022 01:41:58

379 views

Ngadi Group Power to issue 150 percent Right Shares

Kathmandu. Ngadi Group Power Limited has received permission from the regulatory body Nepal Securities Board (Cebon) to issue 150 percent of its shares. The company has received approval from Cebon on July 26 to issue the right shares. The company currently maintains a paid-up capital of Rs. 70.39 million, which is 150 percent of the per capita income of Rs. It will issue 1,63,986 shares at the face value of 100. The sales manager is Siddhartha Capital Limited.

Butwal Power Company Limited (BPC) and Lamjung Electricity Development Company (LEDCO) had an understanding to develop Nyadi Hydropower Project (NHP) together. According to this understanding, a new company named as “Nyadi Hydropower Limited” (NHL) was established to develop Nyadi Hydropower Project in the consortium of the Butwal Power Company (98.19%) and the Lamjung Electricity Development Company Limited (1.81%). The project is being developed by Nyadi Hydropower Limited with BPC as the major stakeholder.