Kathmandu. The Electricity Regulatory Commission (ERC) has given prior approval to Sahas Energy Company for the issuance of right shares. After the bonus share distribution, the company has been allowed to issue right shares in the ratio of 1:1 i.e. the paid-up capital of Rs 4.57 billion. Accordingly, the right shares will be issued equal to the same amount.

The application submitted by the company to the commission on March 24 was discussed in the 304th meeting of the commission held on March 24. After the discussion, it was decided to give prior approval for the right issue with 9 different conditions.

Out of the amount collected from the right share, Rs 1.39 billion should be invested in the Budhigandaki Hydropower Project to be promoted by Times Energy Pvt Ltd. The capacity of the project is 340.423 MW.

Likewise, the EC has made it clear that the other nine conditions must be followed while proceeding with the right issue process. According to the decision of the commission, the company can proceed with the issuance of right shares only after fulfilling these conditions.