IPO for General Public: River Falls Power issuing 27,30,000 units IPO shares from Baisakh 28
Tue, May 3, 2022 1:13 PM on IPO/FPO News, Latest,
River Falls Power Limited (RFPL) will be issuing 27,30,000 units worth Rs. 27.30 crore as Initial Public Offering to the general public from Baisakh 28, 2079. The early closing date of this issue is on Jestha 04 and if the issue is not fully subscribed then it can be extended up to Jestha 11, 2079.
Out of the offered 27,30,000 units; 2% of the total offered shares to the general public i.e. 54,600 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 1,36,500 units have been set aside for the mutual funds. The remaining 25,38,900 units are for the general public.
Applications can be placed for a minimum of 10 units and a maximum of 1,00,000 units.
Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance.
10% of the company's issued capital is already issued to the locals and 39% to the general public.
IPO Allotment for River Falls Power Limited Concludes
CARE Rating Nepal has assigned 'CARE-NP BB-(Is)' to River Hills Power Limited. The grade assigned to any individual issue is considered to have a moderate risk of default regarding timely servicing of financial obligations.
River Falls Power Ltd (RFPL) is a Public limited company, incorporated on October 5, 2004, as a private limited company, later on, converted to a public limited company in October 2015. The company has been set up to build, own and operate a 10.30 MW run-of-river, Down Piluwa Khola Small Hydropower Project in the Sankhuwasabha district of Nepal. The major shareholders of the company as of July 16, 2020, are Mr. Dinesh Gurung (holding 16.12%), Ms. Mithila Shrestha (holding 9.46%) and Mr. Subhash Upreti (holding 7.36%) are major individual shareholders. The company also has 10 institutional shareholders (holding 15.02%), including Maya Khola Hydropower Company, Global Holding, and Sunrise holding.