Rairang Hydropower lists 56,00,000 units IPO shares for trading; trading to be started after 7 days of listing

Rairang Hydropower Development Company Limited (RAIRANG) has listed its 56,00,000 units shares in NEPSE. The trading of the shares will start after 7 days of listing.

Vibor Capital Limited has been appointed as its share registrar to be effective from Ashadh 1, 2075.

The company had issued IPO from Baisakh 31 to Jestha 3, 2075. Out of the total 8,40,000 units (i.e. 15% of total issued capital) to the general public, 5% or 42,000 units were allotted to different mutual fund schemes and 4% or 33,600 units for the company employees. Remaining 91% or 7,64,400 units were allotted to 76,440 applicants. The issue was oversubscribed by almost 17.78 times. Earlier, the company had issued 10% or 5,40,000 units to the people of project affected area. 

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.