Supermai Hydropower Receives Preliminary Approval from Electricity Regulatory Commission to Issue Rights Shares
The Electricity Regulatory Commission has granted preliminary approval to Supermai Hydropower to issue rights shares at 92.52 percent of its paid-up capital. The company will issue rights shares worth Rs 594 million.
The Electricity Regulatory Commission has granted preliminary approval to Supermai Hydropower to issue rights shares. The Commission provided this approval to the company on Ashwin 23.
The Commission has permitted the company to issue rights shares at a ratio of 1:0.9252, i.e., 92.52 percent of its paid-up capital. The company's current paid-up capital stands at Rs 642 million.
At the same ratio, the company will issue rights shares worth Rs 594 million. With the preliminary approval in hand, the company will now proceed with the further process of issuing the rights shares.