API Power Company Limited has allotted its 56,70,000 units (1:0.2938 ratio) right share issue to shareholders on 30th Ashar, 2078. According to Right Share Result of API Power Company, the refunding money will start to the non-allot investors from 3rd Shrawan, 2078. A total of 54,54,401 units share applied by 88,922 shareholders. So, the remaining 2,15,599 right shares will be opened for auction in coming days.
This rights share was opened by company on 20th Jestha, 2078. The issue date was supposed to close on 9th Ashad, 2078. Due to COVID-19 and low participation, the deadline was extended up to 13th Ashad 2078. Even it was undersubscribed.
Api Power Company Pvt. Ltd was established in 5th Ashad, 2060 (19th June 2003) under “The Company Act, 2053”. The company was converted into a Public Limited company on B.S. 6th Shrawan 2070 (21st July 2013). The main objective of the company is to generate electricity through utilization of water and renewable resources abundantly available in the country in solving our everlasting energy crisis. The company has its Corporate Office located at 4th Floor, Trade Tower Nepal, Thapathali, Kathmandu.
Api Power Company Limited is one of the leading Companies in Nepal’s Power Sector with Power Generation and Supply to National Grid as its core business. Company is registered with Securities Board of Nepal and the Shares of the Company ‘API‘ are listed in Nepal Stock Exchange and is freely traded in the market.
Api Power Company Limited is committed to operational excellence and believes in good governance, corporate citizenship and creating value for stakeholders. Company has owned and developed various Hydroelectric and Solar Projects.
Check out the Right Share Result of API Power Company Now https://meroshare.cdsc.com.np/#/login
The object of issued the right shares to generate capital to construct the third project which is the Upper Chameliya Hydropower Project with a 40 MW capacity. The cost of the project is estimated Rs. 740 crore. The company will cover 30% of the total cost by issuing rights shares.
As per proposal, the Upper Chameliya Hydropower Project will produce 26.41 crores units of electricity annually. Out of them, 30 percent will be generated in six months of winter and the remaining 70 percent in six months of rain season. The project will be earned Rs. 162 crores revenue in the first year of production.