River Falls Power Limited has opened the issue and sale of ordinary shares for the residents of Sankhuwasabha, a project-affected area, from today.
The company has stated that the issue and sale of 700,000 shares with a face value of Rs 100 per share equal to Rs 70 million has been opened for the locals. In the ordinary shares, the applicant can apply for the purchase of 10 lots to a maximum of 1 lakh lots of shares, it is mentioned in the information made public by the company.
The company has stated that applications for the purchase of the expelled shares can be submitted till April 25 and, if the application is not received as per the demand by that time, the issue will be open till April 30.
The issue and sale manager of the company is Prabhu Capital Limited. The estimated cost of the 10.30 MW Piluwa Khola Hydropower Project being promoted by the company will be Rs. 186.15 million per MW.
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