River Falls Power Limited has opened the issue and sale of ordinary shares to the public. The company has opened sale of initial public offering (IPO) from today.
The company has invited applicants for the purpose of selling 2.73 million shares to the public at a face value of Rs 100 per share. According to the company, out of the total 27 lakh 30 thousand shares, two percent or 54 thousand 600 shares of the company's employees and five percent or one lakh 36 thousand 500 shares will be allotted to the collective investment fund.
Investors will be able to apply for a minimum of 10 lots and a maximum of 100,000 lots in the issued shares from today till May 15. The company has stated that the eviction will be open till May 25 if the application is not received as per the demand.
Investors can apply for purchase of shares using 'My Shares' online at all C-ASBA member banks and financial institutions and branch offices of the three approved by the Nepal Securities Board, the company said in a public notice.
The company is constructing 10.30 MW Piluwa Khola Small Hydropower Project using the water of Piluwa Khola in Dharmadevi Municipality of Sankhuwasabha. The estimated cost of the project is Rs. 186.15 million per MW, according to the company. The company has been given Care NP BB Minus Issuer rating by Care Rating Institute Care Nepal Limited.
Earlier, the company had also issued and distributed ordinary shares for the residents of Sankhuwasabha district in the project-affected area. The issue and sale manager of the company is Prabhu Capital Limited.
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