November 7, 2023 | 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.
Electricity Regulatory Commission has given the pre-approval to the company for taking the agenda of right issue to its annual general meeting. The hydropower company will begin the procedures for the right offering after the approval from the upcoming general meeting (AGM).
As of Ashad’s end 2080 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 endorsement from AGM, the company needs to appoint the issue and sales manager for the right offering. Then, it should submit the application to the Securities Board Of Nepal (SEBON) seeking permission to float the shares. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
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.