Dordi Khola Jal Bidyut Company to Issue 1:1 Right Share
July 22, 2024 | Investopaper
Dordi Khola Jal Bidyut Company Limited (DORDI) is planning to sell right shares to the shareholders. The company had decided to issue right shares in the ratio 1:1. This means that shareholders’ with 100 shares can apply for the additional 100 right shares.
For this purpose, the hydropower company has submitted the application to the Securities Board of Nepal (SEBON) on Ashad 9, 2081 BS. Only after the approval from the regulatory body SEBON, the company can issue the right shares.
The company has appointed Sanima Capital Limited as the issue and sales manager. An agreement has been reached between Sanima Capital and the hydropower company on this regard.
Electricity Regulatory Commission has given the approval to the company for the right offering.
As of Ashad’s end 2081 BS, Dordi Khola Jal Bidyut Company has a paid-up capital of Rs. 105.42 crores. Hence, DORDI has plans to float 105.42 lakh shares in the right offering. At a par value of Rs 100, the right issue amounts to Rs 105.42 crores.
After the right issue, the paid-up capital will reach Rs. 210.84 crores.
The company is currently operating a 12 MW Dordi-1 Hydroelectric Project in Lamjung District.
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