Rapti Hydro and General Construction IPO Opening for Locals of Rukum District from Jestha 24; Raising Rs 6.12 Crore
Fri, May 27, 2022 11:24 AM on IPO/FPO News, Latest,
Rapti Hydro and General Construction Limited (RHGCL) has published an offer letter to issue its IPO to the project affected locals of the Rukum (Eastern and Western districts).
The local IPO issue will open on 24th Jestha and close on 7th Ashadh, 2079. If not subscribed by the early closing date, the issue will close on 22nd Ashadh. 6,12,793 unit shares will be issued at a par value of Rs. 100 per share. This is 10% of the company's issued capital i.e Rs. 61,27,93,800. The locals of the Rukum (Eastern and Western districts) can apply for a minimum of 10 shares to a maximum of 6,00,000 shares.
Siddhartha Capital has been appointed as the issue manager for the IPO issuance.
ICRA Nepal has assigned the issuer rating of [ICRANP-IR] B+ (pronounced ICRA NP issuer rating B plus) to Rapti Hydro and General Construction Limited (RHGCL). Companies with this grading are considered to have high risk of default regarding timely servicing of financial obligations.
Rapti Hydro & General Construction Limited is a public company incorporated on Kartik 5, 2065 (October 21, 2008) as per Companies Acts 2063, Nepal with the objective to develop and invest in hydropower projects. It is currently developing a 5 MW Rukum Gad Hydropower Project in Rukum East District and owns its Electricity generation license. The Project is located at Sisne and Bhume Gaunpalika of Rukum East District. Its registered office is located at Kathmandu-11, Bluestar Complex, Tripureshor.
