3 Days Left to Apply For Right Shares of Ridi Power Company Limited And Only 2 Days Left For Arun Valley Hydropower
Tue, Mar 19, 2024 10:31 AM on Latest, Dividend, Bonus & Rights,
Ridi Power Company Limited (RIDI) is closing its 1:0.50 ratio right shares to its shareholders from 8th Chaitra, 2080.
The issue opened on the 18th Falgun and will close on the 8th Chaitra, 2080, at the end of banking hours.
The company is issuing 50% right shares worth Rs. 77.44 Crores through the issue of 7,744,506 (1: 0.50) units of right shares to its existing shareholders. The current paid-up capital of Rs. 1.54 Arba. After the adjustment of the proposed right share i.e. 77.44 lakhs units, the company's paid-up capital will increase to Rs. 2.32 Arba.
The hydropower company decided to issue 50% right shares so that the company could invest in the Tallo Balephi hydropower project of Sajha Power Development Company.
Muktinath Capital Limited is appointed as the issue manager for this right issue.
The book closure date was on Magh 22. Thus, the shareholders maintained before that day are eligible for the rights offering.
Similarly, Arun Valley Hydropower Development Company Limited (AHPC) is closing its 1: 1 ratio right shares to its shareholders from 7th Chaitra, 2080.
The issue opened on the 17th Falgun and will close on the 7th Chaitra, 2080, at the end of banking hours.
The hydropower company is issuing 100% right shares worth Rs. 1.86 Arba through the issue of 18,679,626 (1: 1) units of right shares to its existing shareholders. The current paid-up capital of Rs. 1.86 Arba. After the adjustment of the proposed right share i.e. 1.86 crore units, the company's paid-up capital will increase to Rs. 3.72 Arba.
The meeting of the board of directors held on Baisakh 06 has proposed to issue right shares in the ratio of 1:1 i.e 18,679,626 right shares of Rs. 100 par value worth Rs 1.86 arba so that the company can invest 50% of the issued right shares amount i.e. 93,39,813 unit right shares worth Rs 93.39 crore in the Likhu Khola Hydropower Project (30 M.W.) promoted by PK Hydropower Pvt. Ltd. The remaining 93,39,813 unit shares worth Rs 93.39 crore will be used in paying off the loan taken by the company for the Kabeli 'B'-1 Cascade Hydropower Project in Panchthar.
Muktinath Capital Limited is appointed as the issue manager for this right issue.
The book closure date was on Magh 15. Thus, the shareholders maintained before that day are eligible for the rights offering.
