River Falls Power Limited’s initial public offering (IPO) is set to begin on May 11, 2022. After reading the prospectus, don’t forget to apply for the IPO. Rivers Falls Power Limited is a hydropower company that has yet to turn a profit but expects to do so in the coming years. The issue will be open from the 28th of Baisakh until the 11th of Jestha, 2079.
River Falls Hydropower Pvt. Ltd. was established as a private limited company under Nepal’s Company Act 1993 in October 2004, and was later converted to a public limited company in October 2015. By supplying electricity to the government, the company helps to electrify the country. Energy is a critical component for meeting the basic needs of the life support system as well as carrying out all development efforts. As a result, the company intends to contribute to Nepal’s rural economic development as well as to the current power shortage by developing hydropower projects.
River Falls Power Limited IPO Dteails
- River Falls Power Limited Symbol RFPL
- Industry Hydropower
- Issue Manager Prabhu Capital Limited
- IPO Open Date 11-05-2022- 10:00AM
IPO Closing Date: 18-05-2022-05:00PM
No. of Shares 27,30,000 - Rating BB-
- 2% to Employee 54,600
- 5% To Nagarik Lagani Kosh 1,36,500
- Remaining 93 percent To Public 25,38,900
- Face Value & IPO Price Rs. 100 Net Worth Per Share Rs. 87
- It should be noted that the IPO closing date may be extended to 2079-02-11 B.S.
The company’s employees will receive 54,600 units out of the total number of shares. Likewise, mutual fund schemes are given 1,36,500 shares. As a result, the remaining 25,38,900 shares are open to the general public.
On Chaitra 27, 2078 BS, River Falls Power Limited sold 700,000 shares in the first phase of the IPO to residents of the Sankhuwasabha District. Due to the full subscription of shares, the IPO issue was closed on Baisakh 11, 2079 BS. Locals interested in participating could apply for as few as ten shares or as many as one lakh shares. The Securities Board of Nepal (SEBON) approved the company’s public issuance on Chaitra 10, 2078 BS. The company submitted the application to the board on Shrawan 13, 2078 BS.
Source River falls Power Limited IPO
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