Major Debt Slash: Dordi Khola Jal Bidyut Gets Official Nod for Strategic Right Share Offering!
Dordi Khola Jal Bidyut Company Limited has received regulatory approval to issue right shares at a 1:0.288 ratio to settle its outstanding consortium bank loans.
The Electricity Regulatory Commission has granted Dordi Khola Jal Bidyut Company Limited approval to issue right shares in a 1:0.288 ratio. Although the company had initially proposed a higher ratio of 1:0.566 during its annual general meeting, the commission authorized a total of 6,082,549.9263 units valued at approximately Rs. 60.82 crore. The proceeds from this issuance are strictly earmarked for the repayment of loans to a consortium of banks. Under the commission's directives, the company must first offer these shares to its founding shareholders and is required to submit documentation proving the debt was repaid within 15 days of the transaction.