The Securities Exchange Board of Nepal (SEBON) has placed the proposed 100 percent rights share issuance of Chandragiri Hills Limited under its preliminary review pipeline after receiving the company’s application on Shrawan 06, 2083. The company is seeking regulatory approval to issue 16,107,955 units of rights shares to its existing shareholders in a 1:1 ratio, meaning shareholders will be entitled to one new share for every share they currently own.
Rs. 1.61 Billion Rights Issue Planned
Under the proposal, Chandragiri Hills Limited plans to issue rights shares worth Rs. 1.61 billion. The rights offering is aimed exclusively at the company’s existing shareholders and is subject to approval from SEBON and completion of other regulatory requirements.
Paid-up Capital to Double
At present, Chandragiri Hills has a paid-up capital of Rs. 1.61 billion. If the proposed rights issue receives regulatory approval and is fully subscribed, the company’s paid-up capital will increase to Rs. 3.22 billion, effectively doubling its existing capital base. The additional capital is expected to strengthen the company’s financial position and support its future business plans.
Global IME Capital Appointed Issue Manager
Global IME Capital Limited has been appointed as the issue manager for the proposed rights share issuance. The issue manager will oversee the regulatory process and manage the issuance of the rights shares once the proposal secures the necessary approvals. The proposal is currently in SEBON’s preliminary review stage. The rights issue can proceed only after the securities regulator grants its approval and the company completes the required procedural formalities.
