River Falls Power’s initial public offering (IPO) open

KATHMANDU: MAY. 11 – River Falls Power Limited has begun issuing and selling ordinary shares to the general public.

The company has begun selling its initial public offering (IPO) today.

The company has invited bidders to sell 2.73 million shares to the general public at Rs 100 per share.

According to the company, two percent or 54 thousand 600 shares of the company’s employees and five percent or one lakh 36 thousand 500 shares will be allocated to the collective investment fund out of the total 27 lakh 30 thousand shares.

From today until May 15, investors can apply for a minimum of 10 lots and a maximum of 100,000 lots in the issued shares. The company has stated that if the application is not received by the deadline, the eviction will be extended until May 25.

Investors can apply for shares using ‘My Shares’ online at all C-ASBA member banks and financial institutions, as well as branch offices of the three approved by the Nepal Securities Board, according to a public notice from the company.

The company is building the 10.30 MW Piluwa Khola Small Hydropower Project in Sankhuwasabha’s Dharmadevi Municipality using Piluwa Khola water.

According to the company, the project will cost Rs. 186.15 million per MW. Care Rating Institute Care Nepal Limited has assigned the company a Care NP BB Minus Issuer rating.

Previously, the company issued and distributed ordinary shares to residents of the project-affected district of Sankhuwasabha.

Prabhu Capital Limited is the company’s issue and sale manager.