Introduction
In a recent development, Ridi Power Company Limited (RIDI) has obtained the final approval from the Electricity Regulatory Commission to issue right shares to its shareholders.The company has received the green light to issue these right shares at a ratio of 1:0.5, equivalent to 50% of the current shares.
The decision to issue 50% right shares was reached during a board of directors meeting held on 4th Magh, 2079. The company proposed to distribute these right shares on the basis of the paid-up capital, which will be adjusted after considering 40% bonus shares for the fiscal year 2078/79, totaling Rs. 1,54,89,01,200. Once the proposed 77,44,506 units of right shares are incorporated, the total paid-up capital of Ridi Power Company will witness an increase, reaching Rs. 2.32 Arba.
The motivation behind issuing these right shares stems from the company’s plan to invest in the Tallo Balephi hydropower project initiated by Sajha Power Development Company. The decision aligns with the company’s growth strategy and commitment to expanding its operations in the energy sector.
In Short
| Key Information | |
|---|---|
| Company Name | Ridi Power Company Limited (RIDI) |
| Approval | Final approval from Electricity Regulatory Commission for 50% right share issuance |
| Ratio | 1:0.5 or 50% right shares for shareholders |
| Board Meeting | Board meeting on 4th Magh, 2079 proposed 50% right shares after adjusting 40% bonus shares |
| Paid-up Capital | Current: Rs. 1,54,89,01,200 After proposed right share: Rs. 2.32 Arba |
| Investment | Issuing right shares to invest in Tallo Balephi hydropower project |
| Condition | Right shares subject to AGM endorsement and SEBON approval |
However, it is important to note that the issuance of these right shares is contingent upon endorsement during the company’s upcoming Annual General Meeting (AGM) and subsequent approval from the Securities Board of Nepal (SEBON).
As of the most recent update on August 15, 2023, Ridi Power Company’s Last Traded Price (LTP) stands at Rs. 218.00, reflecting a marginal increase of 0.14% from the previous day’s closing price of Rs. 217.70. The trading activity on that day witnessed a total traded quantity of 13,539 shares exchanged in 103 trades. The day’s trading opened at Rs. 221.00, with a high of Rs. 222.00 and a low of Rs. 216.00. The company’s shares have witnessed a 52-week high and low of Rs. 694.50 and Rs. 215.00, respectively.
Recent Trading Information
| Trading Date | August 15, 2023 |
|---|---|
| Last Traded Price (LTP) | Rs. 218.00 |
| Change from Previous Day | Increased by Rs. 0.30 (0.14%) |
| Total Traded Quantity | 13,539 shares |
| Total Trades | 103 |
| Previous Day Close Price | Rs. 217.70 |
| High Price / Low Price | Rs. 222.00 / Rs. 216.00 |
| 52 Week High / 52 Week Low | Rs. 694.50 / Rs. 215.00 |
| Open Price | Rs. 221.00 |
| Close Price* | Rs. 0 |
Ridi Power Company holds a total of 15,489,012 listed shares with a paid-up value of Rs. 1,548,901,200.00. The current market capitalization of the company is estimated at Rs. 3,371,957,912.40.
While these developments indicate positive strides for Ridi Power Company’s expansion plans, investors and stakeholders eagerly await the outcome of the upcoming AGM and SEBON’s approval for the issuance of the right shares.
Company Details
| Details | Value |
|---|---|
| Total Listed Shares | 15,489,012 |
| Total Paid-up Value | Rs. 1,548,901,200.00 |
| Market Capitalization | Rs. 3,371,957,912.40 |