Radhi Vidyut Company to Sell 69.89 Percent Right Share
December 12, 2024 | Investopaper
Radhi Vidyut Company Limited (RADHI)) is planning to sell right shares to the shareholders.
As informed on Nepse, the company has decided to float the right shares in the ratio 1:0.6989 This means that the shareholders with 100 shares can apply for the additional 69.89 shares.
The company will take the agenda of issuing right shares to its upcoming Annual General Meeting after the permission from Electricity Regulatory Commission.
The hydropower company will begin the procedures for the right offering after the approval from the annual general meeting.
At present, RADHI has a paid up capital of Rs. 175.55 crores. After the adjustment of proposed 4.75 percent bonus shares, the paid-up capital will increase to Rs. 183.89 crores. Hence, the company has plans to sell 1,28,52,626.44 right shares worth Rs. 128.52 crores. After the right issue, the paid-up capital will reach Rs. 312.41 crores.
Radhi Vidyut Company Limited is currently operating a 4.4 MW Radhi Small Hydropower Project in Lamjung district. The company has invested approximately Rs. 45.1 crores in other hydropower companies such as Universal Power Company Limited (11 MW Lower Khare Khola), Dordi Khola Jal Bidyut Company Limited (12 MW Dordi-1 HEP), Rapti Hydro & General Construction Limited and Kasuwa Hydropower Limited (45 MW).
