Kathmandu. The Securities Board of Nepal (SEBON) has granted permission to two hydropower companies to issue rights shares. The board has given permission to Arun Valley Hydropower and Riddy Power Company for issue of rights shares. The board has given permission to sell 100 percent rightful shares to Arun Valley and 50 percent to Reddy Power.

The board has allowed Arun Valley to sell 1 crore 86 lakh 79 thousand 626 right shares in the ratio of 1:1. Currently, the paid-up capital of the company is 1 billion 867.962 thousand 600 rupees. The company will issue 100 percent right shares in the same capital.

The company said that out of the amount received from the rightful shares, 933.39 million 81 thousand 300 rupees will be invested in the founder's shares of PK Hydropower Pvt. Similarly, the remaining Rs 93 crore 39 lakh 81 thousand 300 will be used to repay the loan taken from the banks during the construction of Kabeli-1 Cascade Hydropower Project which is currently in operation.

Similarly, RIDI Power has received permission to issue 50 percent rights. The company has received permission to issue a total of 7.744 thousand 506 shares in the ratio of 1:0.5. The company is about to issue rightful shares to build the Lower Balefi Hydropower Project owned by Common Power Development Company under its investment and management and to manage the equity in the said project.