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

Ridi Power Company Limited (RIDI) has received final approval from the Electricity Regulatory Commission to issue the right shares in the ratio of 1:0.5 or 50% for its shareholders.

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.

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.

Note that the company will issue the right shares to its shareholders only after endorsement by the company's upcoming AGM and approval from SEBON.

As of writing, RIDI has an LTP of Rs. 217.70.