PPL Announces Rights Offering Book Closure Date and Capital Increase
People’s Power Limited announces the book closure date for its 50% rights issue, aiming to raise Rs. 31.63 Crores and increase paid-up capital from Rs. 63.26 Crores to Rs. 94.89 Crores. Existing shareholders holding shares before Ashadh 1 are eligible to apply.
People’s Power Limited (PPL) has officially announced the book closure date for its 50% rights offering, set for 2nd Ashadh, 2082 (Nepali calendar). Shareholders who own shares before Ashadh 1 will be eligible to participate in this rights issue.
The company plans to raise Rs. 31.63 Crores by issuing 3,163,000 new right shares, offered at a ratio of 1:0.50, meaning existing shareholders will receive one right share for every two shares they currently hold. Presently, PPL’s paid-up capital stands at Rs. 63.26 Crores. Following the issuance of the new shares, the paid-up capital will increase to Rs. 94.89 Crores.
Prabhu Capital Limited has been appointed as the issue manager for this rights offering. At the time of this announcement, the market price of PPL shares closed at Rs. 477.70.