Hathaway Investment Nepal to Invest NRS 400 Million in Sugar & Hydropower
Hathway Investment Nepal Limited has announced plans to make a long-term investment of up to NRS 400 million in Vijay Shree Sugar Mills and Induwa Khola PROR Hydropower Project as part of its portfolio diversification strategy.
Hathway Investment Nepal Limited is set to expand its investment portfolio by investing up to NRS 400 million across the sugar and hydropower sectors. A meeting of the company’s 235th Board of Directors decided to make the investment through the purchase of promoter shares in Vijay Shree Sugar Mills Limited and the hydropower project promoted by Vision Tesla Power Pvt. Ltd. Of the total investment, Hathaway will invest up to NRS 250 million in Vijay Shree Sugar Mills by purchasing 2.5 million promoter shares at a face value of NRS 100 per share. Similarly, up to NRS 150 million will be invested in the 24.921 MW Induwa Khola PROR Hydropower Project, being developed by Vision Tesla Power in Makalu Rural Municipality of Sankhuwasabha. Hathaway will acquire 1.5 million promoter shares of the company at NRS 100 per share. The company said the investments are part of its strategy to diversify its portfolio across different sectors and pursue long-term returns. According to Company Secretary Sudha Aryal, formal information regarding the investment decision has already been submitted to the regulatory bodies, including NEPSE, SEBON and CDS & Clearing Limited.