Right Alert! Issue of 1: 0.50 Right Shares of Ridi Power Company Opening from Today
Fri, Mar 1, 2024 8:25 AM on Dividend, Bonus & Rights, Book Closure, Latest,
Ridi Power Company Limited (RIDI) is opening the issue of a 1:0.50 ratio of right share to its shareholders at a par value of Rs. 100 from today i.e. on 18th Falgun to 8th Chaitra, 2080.
The company will be 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.
Magh 22 was the book closure date. Thus, the shareholders maintained before that day are eligible for the rights offering.
