Ridi Power Company Receives Approval From Electricity Regulatory Commission to Issue 50% Right Shares

Ridi Power Company (RIDI) has received approval from the Electricity Regulatory Commission (ERC) to issue a 1: 0.50 right offering.

The board of directors meeting held on 4th Magh, 2079 proposed to issue 50% right shares on the paid-up capital after adjusting 40% bonus shares for FY 2078/79 i.e. Rs. 1,54,89,01,200. After the adjustment of the proposed right share i.e. 77,44,506 units, the paid-up capital of the company will increase to Rs. 2.32 Arba. Additionally, the ERC has granted the company to include the right shares-related agenda in its AGM.

The company will issue the right shares to its shareholders only after the approval from AGM and SEBON. As of writing, RIDI has an LTP of Rs. 307.50.