UMRH Appoints Global IME Capital for Rights Issue to Fund Future Hydropower Projects

United Idi-Mardi and R.B. Hydropower Limited (UMRH) held its 15th Annual General Meeting on Chaitra 11, 2081, and approved the issuance of rights shares in a 1:1 ratio. To manage this, the company appointed Global IME Capital Ltd. as the issue and sales manager. A bilateral agreement was signed on Shrawan 14, 2082, by UMRH's Managing Director Roshan K.C. and Global IME Capital's CEO Mandeep Luitel.

The company, which has been distributing cash and bonus shares for the past three years, has an authorized capital of NPR 1 billion. After the rights issue, its paid-up capital will reach NPR 921.6 million. UMRH operates the 7 MW Mardi Khola Hydropower Project located in Machhapuchhre Rural Municipality, Kaski, which has been commercially operational since Ashwin 2076. The funds raised through the rights issue will be invested in other hydropower projects.