Himalayan Power Partner's Right Shares Close Today

The subscription window for the right shares of Himalayan Power Partner Limited (HPPL), which opened on Baisakh 17, is scheduled to close today, Jestha 6. The hydropower company is issuing 50% right shares based on its current paid-up capital, maintaining an allotment ratio of 1:0.5. Under this issue, the company is offering 5,327,085 units of right shares at a par value of Rs 100 per share, aiming to mobilize capital worth Rs 53,27,08,500. Investors who maintained shares until Chaitra 9—prior to the book closure date on Chaitra 10—are eligible to apply. For this issuance, Care Ratings Nepal has assigned a 'CARE-NP BB-' issuer rating to HPPL, indicating a moderate risk profile regarding the company's capability to meet its financial obligations on time. Global IME Capital Limited is managing the issue. Eligible shareholders can submit their applications through approved C-ASBA member banks, financial institutions, or via the online 'Mero Share' portal. Additionally, physical applications are being accepted at designated branches of Global IME Bank in Besishahar, Dordi, Bhoteodar, and Udipur. The current paid-up capital of HPPL stands at Rs 1.06 billion, which will scale up to Rs 1.59 billion upon the successful allotment of these right shares. The capital raised through this equity issuance will be exclusively deployed to liquidate the company's consortium debt, which was secured from a banking syndicate led by Prime Commercial Bank alongside Nabil Bank, Nepal Investment Mega Bank, Prabhu Bank, and Hydroelectricity Investment and Development Company.