March 30, 2021 | Investopaper
United Modi Hydropower Limited is going to invest in United Mewa Khola Hydropower Limited. A meeting of the company’s board of directors held on Chaitra 16 decided to invest in 50 MW United Mewa Khola Hydropower.
The company said in a statement on Tuesday that it had bought 67.50 lakh shares in the hydropower company. The purchase price per share is Rs 100. Hence, the total investment amounts to Rs 67.50 crores. With the investment, United Modi Hydropower will have a 30 percent stake in the company.
United Mewa Hydropower is constructing a 50 MW project in Taplejung district. It is a run-of-the-river (RoR) type project.