IPO of Rairang Hydropower Development Company approved by SEBON for general public

Sun, Apr 22, 2018 3:32 PM on IPO/FPO News, Latest, Stock Market,
IPO of Rai...

Securities Board of Nepal (Sebon) has approved 8.4 lakh unit initial public offering of Rairang Hydropower Development Company for general public. The regulatory board has provided an approval on Baisakh 09, 2075. The issued IPO is 15% of its total capital. The company will issue the shares at a face value of Rs 100.

NIBL ACE Capital has been appointed as the issue manager for the issue.

Rairang Hydropower Development Company Limited operates 500 KW Rairang Hydroelectric Project in Dhading district. It is developing 9.90MW Iwakhola Hydroelectric Project in the border of Taplejung and Panchthar districts. The company has projected commercial operation of the 9.90 MW project before 2074 Magh end. The authorized capital of the hydropower company is Rs 1 arba. Its paid up capital is currently Rs 42 crore. After IPO for locals and general public, its paid up capital will reach Rs 56 crore. Promoters will own 75% of the company, locals of project-affected area will own 10% and general public will own 15% after the IPO.