Rairang Hydropower's trading starts in NEPSE from today with symbol RRHP; Rs 98.42 - Rs 295.33 set as open range for first transaction

Trading of Rairang Hydropower Development Company Limited has commenced in NEPSE from today. The ticker symbol has been given as RRHP and the open range is set from Rs 98.42 to Rs 295.23 for its first transaction.

Vibor Capital has been appointed as the share registrar of the hydropower company.

The company had issued IPO to the general public 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.

Rairang Hydropower operates 500 KW Rairang Hydroelectric Project in Dhading district. Its second hydropower project in Iwakhola in the border of Taplejung and Panchthar district has installed capacity of 9.90 MW. It had posted net profit of Rs 3.54 lakh in FY 2073/74.